In practice, accountants consider revenue from sales if a transaction meets the following condition(s):
A. The seller has passed the legal or economic ownership of the goods to the buyer.
B. The seller and the buyer have agreed on the price of the goods.
C. The buyer has paid the price of the goods or it is certain that he will pay the price.
D. All of the above.
Answer:D
In practice, accountants consider revenue from sales if a transaction meets the following condition(s):
A. The seller has passed the legal or economic ownership of the goods to the buyer. B. The seller and the buyer have agreed on the price of the goods. C. The buyer has paid the price of the goods or it is certain that he will pay the price. D. All of the above.