Accounting · Revenue Recognition
Under standard accounting principles (such as the realization concept), revenue is generally recognized as being earned at the point of time when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The cash payment is explicitly received
- 2The ownership of goods is transferred or delivered to the buyer✓
- 3The production process is completely finished
- 4The purchase order is received from the customer
Correct answer
The ownership of goods is transferred or delivered to the buyer
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