Under Most Circumstances, in Order to Recognize Revenue

question 11

Multiple Choice

Under most circumstances, in order to recognize revenue:

• A)cash must have been received.
• B)the entity must expect to receive cash in the future.
• C)the entity must have paid for all expenses incurred in generating the revenue.
• D)the revenue must be realized or realizable, and earned.

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Definitions:

Acquired Disease

An illness that is not present at birth but develops after birth, often as a result of infection, environmental exposure, or lifestyle choices.

Communicable

Capable of being transmitted from one person or organism to another, usually referring to diseases.

Inherited

Transferred from parent to offspring through the genetic material.