GAAP: (a) provides very detailed, industry-specific guidance on revenue recognition, compared to the general guidance provided by

Question:

GAAP:

(a) provides very detailed, industry-specific guidance on revenue recognition, compared to the general guidance provided by IFRS.

(b) provides only general guidance on revenue recognition, compared to the detailed guidance provided by IFRS.

(c) allows revenue to be recognized when a customer makes an order.

(d) requires that revenue not be recognized until cash is received.

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