ACC 305 Week 2 DQ 2 Revenue Recognition Case 5-2

May 1st, 2015
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ACC 305 Week 2 DQ 2 Revenue Recognition Case 5-2

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Judgment Case 5-2 (page 291)Revenue earned by a business enterprise is recognized for accounting purposes at different times,according to the circumstances. In some situations revenue is recognized approximately as it is earned inthe economic sense. In other situations revenue is recognized at point of delivery.Required:1.Explain and justify why revenue often is recognized as earned at point of delivery.2.Explain in what situations it would be useful to recognize revenue as the productive activitytakes place.3.At what times, other than those included in (1) and (2) above, may it b

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