Identify the point at which revenue would be recognised in each of the following questions:
-At what point would you expect the builder of a football stadium to recognise revenue?
A) during production
B) on completion of production
C) at point of sale or delivery
D) when cash is received.

Question

Quizplus · Accepted Answer

Revenue for long-term construction projects like building a football stadium is typically recognized over time, during production, using the percentage of completion method.

Identify the Point at Which Revenue Would Be Recognised in Each