Question: Which of the following statements accurately describes the difference between revenue recognition at a certain point in time and revenue recognition over a period of time? Revenue recognition at a certain point in time recognizes revenue based on the transfer of control, while revenue recognition over a period of time recognizes revenue when cash is received. Revenue recognition at a certain point in time recognizes revenue when goods or services are delivered, while revenue recognition over a period of time recognizes revenue proportionally over the duration of a long-term contract. Revenue recognition at a certain point in time recognizes revenue when cash is received, while revenue recognition over a period of time recognizes revenue when the right to receive payment is established. Revenue recognition at a certain point in time and revenue recognition over a period of time are the same concepts and do not have any differences.