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According to GAAP, when is revenue recognized on an income statement? when the earnings process is virtually completed when the value of an exchange of
According to GAAP, when is revenue recognized on an income statement?
when the earnings process is virtually completed
when the value of an exchange of goods or services is known or reliablimoletermined
only when cash has been received for the sale
after the related expenses are paid in full
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
10th edition
78025621, 978-0078025624
