Which of the Following Are Part of the Criteria That

question 15

Multiple Choice

Which of the following are part of the criteria that must be met when accounting for a contract with a customer?
I. Commercial substance.
II. Approval of contract by all parties.
III. Identification of the payment terms for the goods/services.
IV. The collection of the consideration from the customer is remote.

• A) I, III and IV.
• B) II and III only.
• C) I, II and IV.
• D) I, II and III.

---

Definitions:

Bystander Effect

A social psychology phenomenon where individuals are less likely to offer help to a victim when other people are present, often due to diffused responsibility.

Greyhound Bus

A popular interstate and long-distance bus service in the United States, known for connecting cities across the country.

Moderately Crowded

A situation described by an intermediate level of density or population in a given space, which might affect individual's behavior and perception differently.

Reciprocity Norm

A social norm that expects individuals to respond to others with similar kinds of behaviors they have received, contributing to the maintenance of social exchange.