Revenue Is Generally Recognized When Realized or Realizable and Earned

question 39

Multiple Choice

Revenue is generally recognized when realized or realizable and earned.This statement describes the

• A)consistency characteristic.
• B)matching principle.
• C)revenue recognition principle.
• D)relevance characteristic.

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Definitions:

Ownership

The act of having legal or rightful title to something, such as property, or feeling responsibility for an outcome or process in an organization.

Foreign Subsidiary

A company that is owned or controlled by another company but is located in a different country.

International Operations

Business activities and transactions conducted across national borders, involving the management of international resources, markets, and logistics.

Asia Pacific Economic Forum

a regional inter-governmental forum aimed at facilitating economic growth, cooperation, trade, and investment in the Asia-Pacific region.