Question

discuss the criteria applied in accounting in recognizing the time of emergence of revenue. are there exceptions to the general rule?​

Answer 1

Explanation:

criteria applied in accounting in reconizing the time of emergence of revenue are:-

1) Risks and rewards of ownership have been transferred from the seller to the buyer.

2) The seller losses control over the good sold.

3) The collection of payment from goods and services is reasonably assured.

4) The amount of revenue can be reasonably measured.

5) Cost of revenue can be reasonably measured.