Which of the following statements is false?

Multiple Choice

• Revenue is recognized at the time of delivery of the goods or services to customers if cash is received.

• A liability is created when cash is received prior to delivery of the goods or services to a customer.

• Collecting cash after delivery of a good or service to a customer does not create revenue on the income statement at the date of collection.

• Revenue is not recognized at the time of delivery of goods and services to customers if cash is received after delivery of the goods and services.