Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 48 - No. 22)
In accrual accounting, when should a business record sales revenue?
When cash is received from the customer.
When the customer places an order.
When the goods or services are provided.
When the invoice is sent to the customer.
Explanation
Revenue is recognized when earned, which is when goods or services are delivered.
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