Final answer:
Revenue recognition generally includes it being realized or realizable, earned, and measurable. 'Revenue is not yet received' is not required for recognizing revenue, as revenue can be recognized before it is actually received if other criteria are met.
Step-by-step explanation:
The criteria that ordinarily exist for revenue to be recognized include the following: the revenue being realized or realizable, the revenue being earned, and the revenue being measurable. Among the options provided, the one that is not a criterion for revenue recognition is "Revenue is not yet received." This is because revenue recognition primarily relies on the completion of the earnings process and measurability, irrespective of whether the revenue has been received or not. In accounting practices, revenue can be recognized before its actual receipt when it is deemed earned and measurable according to set accounting standards.