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Which of the following statements is true with regard to when revenue can be recognized in the accounts of a company? The critical event is
Which of the following statements is true with regard to when revenue can be recognized in the accounts of a company? The critical event is the receipt of cash from the customer. The critical event is typically at the point that the risks and rewards of ownership transfer to the buyer. The critical event is when management decides that revenue has been earned. The critical event for a service company is delivery of the goods to the customer. None of the above are true
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