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Reil [10]
2 years ago
13

Revenue is properly recognized: Multiple Choice When the customer makes an order. Only if the transaction creates an account rec

eivable. At the end of the accounting period. When goods or services are provided to customers and at the amount expected to be received from the customer. When cash from a sale is received.
Business
1 answer:
Marianna [84]2 years ago
3 0

Revenue in a business transaction is recognized <u>When </u><u>goods </u><u>or </u><u>services </u><u>are </u><u>provided </u><u>to </u><u>customers </u><u>and at the </u><u>amount expected </u><u>to be </u><u>received </u><u>from the customer. </u>

<u />

<h3>What is revenue?</h3>
  • Refers to the amount paid to a company for the provision of goods and services.
  • Can only be recognized when that good or service has been provided to the customer.

Until a good or service is provided to the customer who bought it, revenue should not be recognized because it has not been earned by a company.

In conclusion, option C is correct.

Find out more on revenue recognition at brainly.com/question/1380073.

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3 years ago
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Explanation:

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10-20 Royal Cigar Company is preparing a budget for cash collections. Its sales for November and December are estimated as $90,0
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Answer:

$91,500

Explanation:

Given that cash collection pattern is as follows; month of sale, 75%; month following the month of sale, 20%; and a 2% discount for cash collections in the month of sale, it means that cash estimated for collection in December will include;

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