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According to the ideas behind the revenue recognition standard of the FASB, when a seller enters into a contract with a buyer, the seller accepts
According to the ideas behind the revenue recognition standard of the FASB, when a seller enters into a contract with a buyer, the seller accepts certain performance obligations in exchange for the promise of receiving assets from the buyer. Under this standard, when does the seller RECOGNIZE REVENUE?
When the seller satisfies a performance obligation to the buyer?
When the seller enters into a contract with the buyer?
When the seller spends percent or more of the cash needed to serve the buyer?
When the seller collects cash from the buyer?
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Financial Accounting Theory
Authors: William R. Scott
7th edition
132984660, 978-0132984669
