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A contract does not qualify for revenue recognition if either party can unilaterally cancel the contract before performance without compensating the other party. the contract
A contract doesnotqualify for revenue recognition if
- either party can unilaterally cancel the contract before performance without compensating the other party.
- the contract is wholly unperformed.
- contract terms allow cancellation without penalty by either party at any time prior to delivery of the goods.
- any one of these choices apply.
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Understanding Basic Statistics
Authors: Charles Henry Brase, Corrinne Pellillo Brase
6th Edition
978-1133525097, 1133525091, 1111827028, 978-1133110316, 1133110312, 978-1111827021
