In general, revenue is recognized when the earnings process is virtually complete and?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
Enter the market with the new product and has same specification and quality and...
Posted by:
Ahmad Talal Kayali
13-February-2015

1. Collection of the sales price is reasonably assured

2. Cash is collected

3. Production is completed

4. Purchase order is received

Accounting Financial Reporting Financial Accounting Accounting and Finance

Question added by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date Posted: 2015/07/28

Upvote (1) Views (11) Followers (2) Answers (2) Report Question

Write an Answer
Register now or log in to answer.

2 Answers

by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option1 is the right answer.

Downvote Reply () Report

Imdad Hussain Rajput

by Imdad Hussain Rajput , Assistant Sales Manager , Forego

Option number1 is right answer

Downvote Reply () Report

Popular Searches

Sales Executive Jobs Engineers Jobs Engineering Technicians Jobs Accountant Jobs Driver Jobs

Write Your Answer

More Questions Like This

What is the difference between a purchase order and a contract?
Top Answer: A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating types, quantitie ... See More

Answers (6)
Explain the recognition revenue and expenses using percentage of completion method in long term contract ?
Top Answer: <p>The Revenue Recognition criteria is dicussed under IAS18 revenue Recognition. But the example an ... See More

Answers (2)
Teams organized around work processes that complete a work requiring several interdependent tasks & have autonomy over execution of those tasks are:
Top Answer: A) self-directed teams. ^^^^^^^^^^^^^^ See More

Answers (9)
What is appropriate to recognize revenue for health care institution (hospital) where patient admitted and deposits cash before finalization of bill?
Top Answer: Hi, In services industries, normally percentage of completion method is used to recognize revenue. In ca ... See More

Answers (1)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.