The issue of revenue recognition involves both the timing of when to recognize revenue and...
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The issue of revenue recognition involves both the timing of when to recognize revenue and the issue of how much revenue to recognize. A. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when an order is generated by a customer. With regard to measurement, the fundamental principle is that an entity should recognize revenue in an amount that the entity expects to be entitled to in exchange for the goods or services. B. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when an order is paid for in full by a customer. With regard to measurement, the fundamental principle is that a company should recognize the amount of revenue when it transfers control of an asset to the customer. C. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when an order is generated by a customer. With regard to measurement, the fundamental principle is that a company should recognize the amount of revenue when an order is paid for in full by a customer. D. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when control of an asset is transferred to the customer. With regard to measurement, the fundamental principle is that an entity should recognize revenue in an amount that the entity expects to be entitled to in exchange for the goods or services
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The issue of revenue recognition involves both the timing of when to recognize revenue and the issue of how much revenue to recognize. A. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when an order is generated by a customer. With regard to measurement, the fundamental principle is that an entity should recognize revenue in an amount that the entity expects to be entitled to in exchange for the goods or services. B. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when an order is paid for in full by a customer. With regard to measurement, the fundamental principle is that a company should recognize the amount of revenue when it transfers control of an asset to the customer. C. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when an order is generated by a customer. With regard to measurement, the fundamental principle is that a company should recognize the amount of revenue when an order is paid for in full by a customer. D. With regard to timing, the fundamental principle of revenue recognition is that an entity should recognize revenue when control of an asset is transferred to the customer. With regard to measurement, the fundamental principle is that an entity should recognize revenue in an amount that the entity expects to be entitled to in exchange for the goods or services 