Multiple Choice
A flower shop makes a large sale for $1,000 on November 30.The customer is sent a statement on December 5 and a check is received on December 10.The flower shop follows GAAP and applies the revenue recognition principle.When is the $1,000 considered to be recognized?
A) December 5
B) December 10
C) November 30
D) December 1
Correct Answer:
Verified
Correct Answer:
Verified
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