CAPE Accounting Unit 1 Practice Questions - CAPE Accounting Unit 1 - Financial Accounting (Caribbean Examinations Council, CXC) Exam

Under the accrual basis of accounting, revenue is generally recognised when:

Cash is received from the customer It is earned, regardless of when cash is received The invoice is printed by the accounting software The owners decide to declare a dividend

Correct Answer:

It is earned, regardless of when cash is received

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