Multiple Choice
The basic revenue recognition criteria, under GAAP, are that revenue should not be recognized until:
A) Services have been delivered, and cash has been received
B) Services have been agreed upon, and a price has been agreed upon, even if the services have not yet been delivered
C) An earnings process has been completed, and the revenue is either realized or realizable
D) Cash has been received, and services have been agreed upon, even if not delivered
Correct Answer:
Verified
Correct Answer:
Verified
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