View the step-by-step solution to: In some situations, revenue is recognized as it is earned in the

This question was answered on Apr 15, 2012. View the Answer
In some situations, revenue is recognized as it is earned in the economic sense. In other situations, a criterion such as the point of sale is used to recognize income. Validate why revenue is often recognized as earned at the time of sale.

Create a situation or scenario in which it may be appropriate to recognize revenue as the productive activity takes place. State whether or not there are any other times appropriate for recognizing revenue. Provide a rationale with your response.
Sign up to view the entire interaction

Top Answer

Dear Student Please find... View the full answer


ANSWER:Revenue is to be recognised at the time of sale of goods or product takes place
when all the following conditions are recognised:There is actual delivery of goods along with all risk and...

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.


Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • 890,990,898

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • 890,990,898


    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards