When a sale is made on credit basis, Its recognized in income statement at the time of? pick up the correct match

The correct match for when a sale is recognized in the income statement on a credit basis is at the time of sale.

Explanation:

In accounting, the recognition of revenue from a sale on credit occurs at the point of sale, which is when the goods or services are delivered to the customer and the significant risks and rewards of ownership have been transferred. This follows the revenue recognition principle that states revenue should be recognized when it is earned, regardless of when the cash is received.

This means that even though the payment might be received later, the revenue from that sale is recognized in the income statement at the time the transaction occurs. Therefore, the correct match for the question is "at the time of sale."