Question

Which of the following is a criterion that must be met to recognize revenue from the sale of goods?

Answer 1

The correct answer is letter A.

Explanation: The revenues are recognized when they are realized and are earned.

When the purchase is made and the receipt for the purchase is received, this characterizes the receipt, proof of purchase, regardless of the purchase price.   If evidences of the arrangement exist.

If the delivery has occurred.

All that means the revenue.