Which of the Following Is Not a Condition That Needs

question 3

Multiple Choice

Which of the following is not a condition that needs to be satisfied prior to recognising revenue from the rendering of services using the 'percentage of completion' method?

• A) The contract is non-cancellable.
• B) The amount of revenue can be measured reliably.
• C) The stage of completion of the transaction can be measured reliably.
• D) The costs of the transaction (including future costs) can be measured reliably.

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Definitions:

Theoretically Diverse

Characterized by a wide range of theories or ideas in a particular field or subject, reflecting a broad spectrum of viewpoints.

Empirical Observations

Information gathered directly through the senses or instrumentation, forming the basis for scientific inquiry and evidence.

Psychology

The systematic exploration of human mind and its operations, particularly those influencing behavior in specific situations.

Applied Psychology

the branch of psychology focused on the practical application of research to solve real-world problems.