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Which situations can a company recognize revenue

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Problem 1: Under which one of the following situations can a company recognize revenue under Generally Accepted Accounting Principles?

1) A customer signs a contract to purchase goods to be delivered in two weeks.

2) A company completes production of a customer order to be delivered in two weeks.

3) A company ships the goods for which it received a deposit two weeks ago.

4) A company receives a cash deposit from a customer to deliver goods in two weeks.

5) A company purchased raw materials to complete production of a customer order.

Reference no: EM132728482

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