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Revenue for a company is recognized for accounting purposes when the customer obtains control over the good or service. In some situations, revenue is recognized at a point in time; in other cases, accountants would recognize revenue over time. (Ignore income taxes.) Required: 1. Explain when it would be appropriate to recognize revenue over time as opposed to a point in time. 2. How would a seller determine if a customer has obtained control over a gen id or service?

BuyFind

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
Publisher: Cengage Learning
ISBN: 9781337788281
BuyFind

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
Publisher: Cengage Learning
ISBN: 9781337788281

Solutions

Chapter
Section
Chapter 17, Problem 9C
Textbook Problem

Revenue for a company is recognized for accounting purposes when the customer obtains control over the good or service. In some situations, revenue is recognized at a point in time; in other cases, accountants would recognize revenue over time. (Ignore income taxes.)

Required:

  1. 1. Explain when it would be appropriate to recognize revenue over time as opposed to a point in time.
  2. 2. How would a seller determine if a customer has obtained control over a gen id or service?

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Chapter 17 Solutions

Intermediate Accounting: Reporting And Analysis
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