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Revenue should be recognized when ownership of goods passes from the seller to the buyer. What two conditions underlie this principle? a. determining when the

Revenue should be recognized when ownership of goods passes from the seller to the buyer. What two conditions underlie this principle?

a. determining when the revenue is actually earned and estimating the value of the revenue earned

b. determining when cash should be exchanged and estimating the value of the revenue earned

c. determining the value of the revenue earned and estimating the expenses associated with the revenue

d. none of the above

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