The Revenue Realization Principle Requires Four Conditions to Be Met

question 106

Multiple Choice

The revenue realization principle requires four conditions to be met. Which of the following is one of the four conditions?

• A) The customer has paid for the goods or services.
• B) Delivery of goods or performance of service has occurred or is scheduled to occur.
• C)The price is fixed or determinable.
• D)The customer has signed a contract.

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Definitions:

Federal Law

Legislation enacted by the national government of a country, which applies to all its states, territories, and citizens.

Treatment Team

A multidisciplinary group of health care professionals who collaborate to assess, plan, and implement an individualized treatment plan for a patient.

Ethical Principle

Fundamental guidelines that influence decision making and conduct within a specific profession or context.

Restraint

Measures or practices used to restrict an individual's freedom of movement, primarily for safety reasons in healthcare and law enforcement contexts.