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What are the main criteria for recognising revenue

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Reference no: EM132857012

Question - Please refer to the following summarized cash flow:

Net cash flow from Operating activities 45,000

Net cash flow from Investing activities (217,000)

Net cash flow from Financing activities 130,000

Required -

A) What can we explain to someone who does not have any accounting knowledge?

B) What are the main criteria for recognising revenue from the sale of goods?

Reference no: EM132857012

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