Under US GAAP, When a Contract Meets the Collectibility Criterion, This

question 42

Multiple Choice

Under U.S. GAAP, when a contract meets the collectibility criterion, this means ________.

• A) the seller believes it is 50% likely to collect the consideration in the contract
• B) the seller believes it is more likely than not to collect the consideration in the contract
• C) the seller believes it is likely to collect the consideration in the contract
• D) the seller believes it is unlikely to collect the consideration in the contract

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Definitions:

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