Which of the following is $\bold{not}$ a condition for reporting revenues?
A)The goods or services have been delivered.
B)The customer has already paid for the good or service.
C)The price is fixed or determinable.
D)Revenue is measurable.

Question

Quizplus · Accepted Answer

The customer paying for the goods or services is not a condition for reporting revenue. Revenue should be recognized when the goods or services have been delivered, the price is fixed or determinable, and revenue is measurable. In some cases, revenue can be recognized even if the customer has not yet paid (such as with accounts receivable).

Which of the Following Is not\bold{not}not A Condition for Reporting Revenues? A)The Goods or Services Have

Which of the Following Is $\bold{not}$ A Condition for Reporting Revenues?
A)The Goods or Services Have