Which of these is NOT one of the four revenue-recognition criteria as the textbooks list them?

Answer

Cash has been received from the customer

Options - A. Cash has been received from the customer - B. Risks and rewards have passed to the buyer - C. The amount of revenue is measurable - D. Collection is reasonably assured Why - A. Correct — cash is never a criterion; a sale on account meets all four. s.3400 states three (performance, measurable, collectible), and performance covers the first two of the textbook four. - B. Transfer of the risks and rewards of ownership is one of the four. - C. A measurable amount is one of the four. - D. Reasonable assurance of collection is one of the four.

Lyryx Intermediate FA Vol 1 §5.1, §5.5, §5.6; Hermanson Vol 1 ch 5 (concept map G1, G2); verified-facts.md V2 (s.3400 wording — BDO ASPE at a Glance, Section 3400, May 2025)