The general criteria for revenue recognition are explained in the chapter. For each of the following, say if you believe if these criteria have been met.

A. A grocery store sells three cans of tuna fish to a customer for cash.

B. A grocery store sells $70 worth of groceries to a customer, who uses a credit card to pay. The credit card company will pay the grocery store in three days.

C. A landlord has rented office space to a tenant this month. The tenant has promised to pay in two months.

D. A company owns beef cattle. It bought some young cattle at the beginning of the year, and this year they have grown larger and gained weight. It will not sell them until next year.

E. An accounting firm does bookkeeping services for a client this month, and is paid in cash.

F. A shoe manufacturer makes winter boots during July. It expects to ship them out to customers in August.