When the outcome of a transaction involving the rendering of services cannot be estimated reliably, which of
Question:
When the outcome of a transaction involving the rendering of services cannot be estimated reliably, which of the following statements is correct?
(a) Revenue should not be recognized.
(b) Revenue should be recognized for the total amount specified in the contract.
(c) Revenue should be recognized only up to the amount of the recoverable recognized expenses.
(d) None of these.
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Related Book For 
Financial Accounting And Reporting A Global Perspective
ISBN: 9781844802500
2nd Edition
Authors: Michel J. Lebas, Herve Stolowy, Michael Lebas
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