Question

Revenue is properly recognized: Group of answer choices Upon completion of the sale or when services have been performed. At the end of the accounting period. Only if the transaction creates an account receivable. When the customer makes an order.

Answer 1

Answer:

Upon completion of the sale or when services have been performed.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, account payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).

A revenue generated by a business firm or entity is properly recognized upon completion of the sale of a product or when services have been performed.