If a company has yet to receive payment for its goods, which of the following describes a situation when it can recognize revenue from the sale?
If a company has yet to receive payment for its goods, which of the
following describes a situation when it can recognize revenue from the sale?
All of these answers.
When the goods have been delivered and the title has been transferred to the buyer.
Once the company has sustained a portion of the costs associated with providing the good or service.
Once the company has performed a portion of the services to be provided.