For which of the following products is it appropriate to recognize revenue at the completion of production even though no sale has been made?
A) Automobiles
B) Large appliances
C) Single family residential units
D) Precious metals

Question

Quizplus · Accepted Answer

Revenue recognition at the completion of production, even if no sale has been made, is appropriate for precious metals. This is because precious metals have a readily available market price and are often sold in commodity markets, making their value easily determinable upon completion of production.

For Which of the Following Products Is It Appropriate to Recognize