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Which of the following criteria must be met for revenue recognition? A. The customer must pay in advance. B. The performance obligation must be satisfied

Which of the following criteria must be met for revenue recognition?

A. The customer must pay in advance.

  • B. The performance obligation must be satisfied over time.
  • C. The transaction price can be variable, as long as it is determined after the contract is completed.
  • D. The customer can return the goods at any time and still be recognized as revenue.
  • E. The contract terms with the customer must be fulfilled.

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