Which of the following best describes the key elements of the revenue recognition principle? Multiple Choice Revenue should be reported on the income statement at a time and amount dictated by industry standards, as determined using professional judgment Revenue should be reported when a seller transfers goods or services to a customer at the amount to which the seller is entitled Revenue should be reported when a contract is signed and at the amount equal to the cost of the performance obligation satisfied by the seller Revenue should be reported based on the amount of cash received by a selec