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Companies recognize revenue only when: Multiple Choice control over goods or services has been transferred from the seller to the customer. a performance obligation is
Companies recognize revenue only when:
Multiple Choice
control over goods or services has been transferred from the seller to the customer.
a performance obligation is designated in a written contract.
a contract is reasonably likely to exist.
a written contract is in place and payment is variable.
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Canadian Tax Principles
Authors: Clarence Byrd, Ida Chen
2006-2007 Edition
0132325314, 978-0132325318
