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To guard against the recording of fictitious revenues the following criteria must be met for revenues to be recorded: persuasive evidence that an arrangement exists;
To guard against the recording of fictitious revenues the following criteria must be met for revenues to be recorded: persuasive evidence that an arrangement exists; delivery has occured or services rendered; seller's price to the buyer is fixed or determinable; and collectability is reasonably assured. T/F
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
