Multiple Choice
Ron's Hot Rod Shop follows the revenue recognition principle. Ron services a car on July 31. The customer picks up the vehicle on August 1 and mails the payment to Ron on August 5. Ron receives the check in the mail on August 6. When should Ron show that the revenue was earned?
A) July 31
B) August 1
C) August 5
D) August 6
Correct Answer:
Verified
Correct Answer:
Verified
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