Which of the following is a key principle of ASC 606

date：2026-02-07 17:07:43 author：admin browse： time View comments Add Collection

Which of the following is a key principle of ASC 606

Which of the following is a key principle of ASC 606?

A. Revenue is recognized when cash is received

B. Revenue is recognized when control transfers to the customer

C. Revenue is recognized when the contract is signed

D. Revenue is recognized when the product is shipped

Answer: B

Explanation: ASC 606-10-10-1: Revenue is recognized when control of goods/services transfers to the customer.

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