The Revenue Recognition (RR) criteria call mainly for revenue to be recognized when all earnings...
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Accounting
The Revenue Recognition (RR) criteria call mainly for revenue to be recognized when all earnings process is complete, and collectability is reasonably assured. Delivery of merchandise or rendering of service is considered as evidence of satisfying the recognition criteria. However, there are situations where recognition is allowed before delivery of merchandise and also some cases after delivery long time. Briefly discuss RR criteria and state the situations where deviations from the general rule is allowed. You must start a thread before you can read and reply to other threads
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