The Rule for Recognizing Revenues in Generally Accepted Accounting Principles

Multiple Choice

The rule for recognizing revenues in generally accepted accounting principles is that

A) Revenues should be recognized when earned, even if the amount that can be realized is not predictable at that time
B) Revenues should be recognized when cash is received, even if they are not yet earned
C) Revenues should be recognized when an earnings process is substantially complete, and the revenue is either realized or realizable
D) Management may choose between recognizing revenues when earned or when cash is received