Collectability must be certain in order for revenue to be recognized.

Name: Collectability must be certain in order for revenue to be recognized.
Brand: Quizplus
Rating: 4.7 (39 reviews)

Question

Quizplus · Accepted Answer

Collectability refers to the ability of the customer to pay for the goods or services that have been provided. Revenue cannot be recognized until it is certain that the customer will pay for what they have received. Therefore, collectability must be certain for revenue to be recognized.

Collectability Must Be Certain in Order for Revenue to Be