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  3. which of the following indicates when revenues are

Which of the following indicates when revenues are usually recognized under GAAP? When the earnings...

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Question

Accounting

Which of the following indicates when revenues are usually recognized under GAAP?

When the earnings process is complete or virtually complete.

When an exchange has taken place.

When cash has been collected.

When BOTH the earnings process is complete or virtually complete AND when an exchange has taken place.

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