How to Answer CPA exam Questions - Revenue Recognition

In this video, I discuss how to answer CPA exam questions that deals with revenue recognition. Farhat Lectures can you pass the CPA exam. The CPA Exam consists of four, four-hour sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR) and Regulation (REG). The Uniform CPA Exam protects the public interest by helping to ensure that only qualified individuals become licensed as U.S. Certified Public Check my website: fwww.farhatlectures.com
✔️Accounting students and CPA Exam candidates, check my website for additional resources: farhatlectures.com/
📧Connect with me on social media: linktr.ee/farhatlectures
#CPAEXAM #intermediateaccounting#accountingstudent

[@silversanoka2527]

Your are amaizing Alaah bless you Prof

[@AccountingLectures]

You are welcome.
Check my website for more:
✔farhatlectures.com/
✔Instagram: @farhatlectures
✔ Linkedin: www.linkedin.com/in/professorfarhat/
✔Facebook:@accountinglectures
✔Twitter: @farhatlectures
🎤Email: [e-mail]

[@aaroacademy]

Thank you, So, much for your content.

[@AccountingLectures]

My pleasure! Thank you. For more resources check out my website: www.farhatlectures.com

[@annaangelopoulos5630]

Great explanation!

[@AccountingLectures]

You are welcome.
Check my website for more:
✔farhatlectures.com/
✔Instagram: @farhatlectures
✔ Linkedin: www.linkedin.com/in/professorfarhat/
✔Facebook:@accountinglectures
✔Twitter: @farhatlectures
🎤Email: [e-mail]

[@mayankjain4871]

if in the second question, if it was a specialized contract, would the revenue be recognised at 60k?

[@CJ-hn6ov]

Dear Professor Farhat, I wish you and your family have a happy Thanksgiving day

[@AccountingLectures]

You are welcome.
Check my website for more:
✔farhatlectures.com/
✔Instagram: @farhatlectures
✔ Linkedin: www.linkedin.com/in/professorfarhat/
✔Facebook:@accountinglectures
✔Twitter: @farhatlectures
🎤Email: [e-mail]

[@user-fr9jv1np1j]

In the 2nd question, it says that if the buyer cancels the contract, it must pay the seller for the work completed. Given this, why can't the seller recognize its 80% work done as revenue by the EOY? Thanks!