Generally, revenue from sales should be recognized at a point when
A)management decides it is appropriate to do so.
B)the product is available for sale to the ultimate consumer.
C)the entire amount receivable has been collected from the customer and there remains no further warranty liability.
D)none of these.

Question

Quizplus · Accepted Answer

Revenue from sales is generally recognized when it is earned and realizable, typically at the point of delivery or transfer of ownership, not necessarily when collected or based on management's discretion.

Generally, Revenue from Sales Should Be Recognized at a Point