All of the following categories have established revenue recognition criteria except
A)sales of goods.
B)collection of accounts receivable.
C)provision of services.
D)contracts.

Question

Quizplus · Accepted Answer

While the other categories have established revenue recognition criteria, the collection of accounts receivable refers to the receipt of payment for products or services already sold or rendered. Revenue would have already been recognized at the time of the sale or service provision, and the collection of accounts receivable does not affect the recognition of revenue.

All of the Following Categories Have Established Revenue Recognition Criteria