Which of the following is not a condition required by the SEC for the recognition of revenue?
A)Delivery of goods or rendering of services.
B)Transfer of cash from the buyer to the seller.
C)Fixed or determinable price.
D)Existence of an arrangement.

Question

Quizplus · Accepted Answer

While the transfer of cash is a common occurrence in revenue recognition, it is not a specific condition required by the SEC. The other three conditions (delivery of goods or services, fixed or determinable price, and existence of an arrangement) are all required for revenue recognition under SEC guidelines.

Which of the Following Is Not a Condition Required by the SEC