Revenue is recognized in the profit and loss account as soon as a

Accounts - Principles of Accounts WAEC 2006

Revenue is recognized in the profit and loss account as soon as a

  • debtor pays what is due from him
  • sale of goods takes place and money is received
  • sale of goods takes place whether or not money is received checkmark
  • sales of a fixed asset takes place

The correct answer is: C

Explanation

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