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Home Q & A Board Other Fields Homework Help Business Accounting
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sm.r1 sm.r1
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5 years ago
What are the conditions that must be met in order for the seller to recognize revenue?
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
Authors:
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#1
5 years ago
 A good or a service is transferred and revenue recognized when the customer obtains control. A customer has control of the asset if it has the ability to direct the use of the asset and receives all (or substantially all) of the remaining benefits of the asset.
sm.r1 Author
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#2
5 years ago
Mind blown, I've bookmarked this site on told my friends
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#3
5 years ago
Really appreciate that
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