In e-commerce accounting, what is the appropriate treatment for recognizing revenue from the sale of goods when using the accrual basis? A. Recognize revenue when cash is received from customers. B. Recognize revenue when goods are shipped or services are provided, and the customer is obligated to pay. C. Recognize revenue only when customers make the payment through credit cards. D. Recognize revenue at the end of the financial year for all completed transactions
In e-commerce accounting, what is the appropriate treatment for recognizing revenue from the sale of goods when using the accrual basis? A. Recognize revenue when cash is received from customers. B. Recognize revenue when goods are shipped or services are provided, and the customer is obligated to pay. C. Recognize revenue only when customers make the payment through credit cards. D. Recognize revenue at the end of the financial year for all completed transactions
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounting for E-commerce Transactions:
In e-commerce accounting, what is the appropriate treatment for recognizing revenue from the sale of goods when using the accrual basis?
A. Recognize revenue when cash is received from customers.
B. Recognize revenue when goods are shipped or services are provided, and the customer is obligated to pay.
C. Recognize revenue only when customers make the payment through credit cards.
D. Recognize revenue at the end of the financial year for all completed transactions
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