Revenues must always be recognized at a single point in time.

Name: Revenues must always be recognized at a single point in time.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Revenues can be recognized either at a single point in time or over a period of time depending on the nature of the revenue and the terms of the agreement. For example, revenue from the sale of goods is generally recognized at the point of sale, while revenue from a service contract may be recognized over the life of the contract.

Revenues Must Always Be Recognized at a Single Point in Time