If the critical event and measurability conditions are satisfied,revenue may be recognized before the sale
A)as production takes place.
B)when the customer pays in advance.
C)if the seller legally owns the goods.
D)when the customer purchases on credit.

Question

Quizplus · Accepted Answer

If the critical event (production takes place) and measurability conditions are satisfied, revenue may be recognized before the sale takes place. This is because the production process can be a reliable indicator of the transfer of control to the customer.

If the Critical Event and Measurability Conditions Are Satisfied,revenue May