As per generally accepted accounting principles (GAAP), when the goods or services are delivered the revenue should be recorded and the transaction done in all respects.
The principle of revenue recognition occurs when the revenue is realized or earned, whether cash is obtained or not and it also meets the accounting accrual basis. Realizable here means that the consumer receives the product but the payment is made later.
Therefore, the revenue should be recorded on November 1
<span>A food pyramid consists of 10 million calories' worth of diatoms. How much of this is passed on to third level consumers, such as large fishes?</span>
False credit card is taking credit (money) from the bank to pay back w interest plus when you dont pay it back you go in debt therefore ultimately leading to bankruptcy
