Final answer:
Revenue can be recognized at a single point in time when certain conditions are met, such as the transfer of ownership or completion of services in one transaction.
Step-by-step explanation:
In business, revenue recognition is an important accounting principle that determines when revenue should be recognized in a company's financial statements. Revenue can be recognized at a single point in time under certain conditions. One example is when a product is sold to a customer and the risks and rewards of ownership are transferred to the customer at that moment. Another example is when services are rendered and completed in one single transaction. In these cases, revenue is recognized at the single point in time when the transaction occurs.