BTEB HSC Business Management & Technology (HSC BMT) Practice Questions - BTEB Higher Secondary Certificate - Business Management & Technology (HSC BM BMT) Exam

Under the accrual basis of accounting, when should revenue from the sale of merchandise be recognized in the books?

When cash is physically deposited into the bank account When the sales contract is signed prior to manufacturing When goods are delivered and the performance obligation is satisfied, regardless of when cash is received When the customer pays the final credit installment at the end of the year

Correct Answer:

When goods are delivered and the performance obligation is satisfied, regardless of when cash is received

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