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    Advanced Accounting Study Set 3
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    Exam 5: Intercompany Profit Transactions - Inventories
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    Revenue Is Recognized When It Is Earned; Therefore Revenue Earned
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Revenue Is Recognized When It Is Earned; Therefore Revenue Earned

Question 47

Question 47

True/False

Revenue is recognized when it is earned; therefore revenue earned for a consolidated entity occurs when there is a sale to outside entities.

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