When a sale is made on credit basis, Its recognized in income statement at the time of? pick up the correct match
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Solution 1
When a sale is made on a credit basis, it is recognized in the income statement at the time of sale. This is because under the accrual basis of accounting, revenues are reported on the income statement when they are earned (when the sales have been made), not when the cash is received. This is known Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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