Psychology

question 18

Multiple Choice

Psychology:

• A)has an applied side.
• B)is a science of behavior.
• C)has goals of describing,predicting,and explaining events.
• D)all of the above

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Definitions:

Recognizing Revenue

The process of recording revenue in the accounting records once it is earned and realizable, in accordance with relevant accounting standards.

Performance Obligation

A commitment in a contract to transfer a good or service to a customer, for which a company must satisfy to recognize revenue.

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) used globally to prepare public company financial statements.