under accrual accounting, the event that triggers revenue recognition for the sale of goods is the:\na. date…

under accrual accounting, the event that triggers revenue recognition for the sale of goods is the:\na. date the customer pays for the goods.\nb. date a contract is signed.\nc. date the customer orders the goods.\nd. delivery of goods to customer.

under accrual accounting, the event that triggers revenue recognition for the sale of goods is the:\na. date the customer pays for the goods.\nb. date a contract is signed.\nc. date the customer orders the goods.\nd. delivery of goods to customer.

Answer

Brief Explanations:

Under accrual accounting, revenue is recognized when the goods or services are delivered or performed, not when cash is received. Option A (customer pays) is cash - basis. Option B (contract signed) and C (customer orders) do not mean the goods are transferred. Only when goods are delivered (Option D), the performance obligation is satisfied.

Answer:

D. delivery of goods to customer.