Describe how revenue is recognized as it pertains to the realization principle.
(A) Revenue is recorded on the books at the time of the transaction.
(B) Revenue is recorded on the books at the time of the transaction for long-term liability and when cash is received for short-term liability.
(C) Revenue is recorded on the books when the cash is received
(D) Revenue is recorded on the books at the time of the transaction for short-term liability and when cash is received for long term-liability.