Typically when you sell something you recognize the revenue at that point where you turn over the final product or service to the customer. Now you have a building that you are constructing that will take 4 years till completion. So now how do we recognize something today that won't be turned over for years.

Typically when you sell something you recognize the revenue at that point where you turn over the final product or service to the customer. Now you have a building that you are constructing that will take 4 years till completion. So now how do we recognize something today that won't be turned over for years.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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