Final answer:
Revenue recognition will depend on accounting standards followed. Generally, revenue should be recognized when the seller has transferred control to the customer. An example is custom-made furniture.
Step-by-step explanation:
If the seller provides a product or service that is customized by the customer and for which the seller has no alternative use, the revenue recognition for the seller will depend on the accounting standards followed. In general, revenue should be recognized when the seller has transferred control of the product or service to the customer. This means that the customer has the ability to use and benefit from the customized product or service, and the seller has the right to receive payment for it. One example of recognizing revenue in such a situation is when a company sells custom-made furniture. The revenue is recognized when the furniture is delivered to the customer and the customer can use it.