The Nervous System Consists of Two Major Divisions: the ____

question 117

Multiple Choice

The nervous system consists of two major divisions: the ____ and ____ nervous systems.

• A) peripheral; somatic
• B) autonomic; somatic
• C) central; peripheral
• D) central; autonomic

Identify criteria for revenue recognition from the sale of goods or services.

Analyze revenue recognition in the context of principal/agent relationships.

Distinguish between income categories as defined in the Conceptual Framework.

Understand required disclosures under revenue recognition standards.

---

Definitions:

Private Sector

Part of the economy that is run by individuals and companies for profit and is not under direct state control.

Entrepreneurs

Individuals who initiate, manage, and assume the risks of starting and operating a business with the aim of making a profit.

Third Party

An entity involved in a transaction besides the two main parties; in insurance, the person other than the policyholder and the insurer who may be affected by or have a claim against the policy.

Costs

The amount that must be paid or spent to buy or obtain something.