A receivable is recognized
A) when the sales effort is substantially complete.
B) regardless of collection risk.
C) only when payment has been received.
D) when a service is performed.

Name: A receivable is recognized A) when the sales effort is substantially complete. B) regardless of collection risk. C) only when payment has been received. D) when a service is performed.
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Question

Quizplus · Accepted Answer

When the sales effort is substantially complete, revenue is recognized and a receivable is recorded.

A Receivable Is Recognized