Cash VS Revenue

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6 Terms

1
New cards

Customer pays cash and receives product immediately. Revenue recognized now?

Yes

2
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Customer pays in advance for next month's service. Revenue recognized now?

No

3
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Company delivers product on account. Revenue recognized now?

Yes

4
New cards

Customer pays an old outstanding balance. Revenue recognized now?

No new revenue

5
New cards

Company provides service but hasn't billed customer. Revenue recognized now?

Yes

6
New cards

Customer prepays and receives service now. Revenue recognized now?

Yes