9 Initial franchise fees should be recorded as revenue by the franchisor: A. in accordance with the franchise agreement. B. when cash is received from the franchisee. C. when all distinct performance obligations relating to the sale have been performed. D. during the year the franchise agreement is signed. 10 Under a consignment arrangement, revenue is recognized when the consigned goods: A. are manufactured. B. are shipped and delivered to the consignee. C. sold to a third party by the consignee. A. $3,000 B. $2,610 C. $3,450