Question

Which of the following is one of the steps for recognizing revenue?

a) Cash receipt
b) Completion of production
c) Customer order placement
d) Vendor invoice issuance

Answer 1

One of the steps for recognizing revenue is customer order placement. Other steps include completion of production and vendor invoice issuance. Option C

Step-by-step explanation:

One of the steps for recognizing revenue is customer order placement. When a customer places an order for goods or services, it indicates their intention to purchase and provides evidence of future revenue.

Other steps for recognizing revenue include completion of production when goods are ready for delivery or services are performed, and vendor invoice issuance when the vendor sends an invoice for payment. Option C