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Explain when it would be appropriate to recognize revenue

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Reference no: EM132890226

Problem - Revenue Recognition Control - Revenue for a company is recognized for accounting purposes when the customer obtains control over the good or service. In some situations, revenue is recognized at a point in time; in other cases, accountants would recognize revenue over time. (Ignore income taxes.)

Required -

Explain when it would be appropriate to recognize revenue over time as opposed to a point in time.

How would a seller determine if a customer has obtained control over a good or service?

Reference no: EM132890226

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