With the accrual basis of accounting,it is appropriate to recognize revenue from a credit sale
A) on the date of the sale.
B) on the date the account is collected in full.
C) each time a payment on an account balance is received.
D) either on the date of the sale or when the amount of the sale is collected.

Question

Quizplus · Accepted Answer

Under the accrual basis of accounting, revenue is recognized when it is earned, which is typically on the date of the sale, regardless of when the payment is received.

With the Accrual Basis of Accounting,it Is Appropriate to Recognize