The University of Vancouver Offers Summer Courses from May to August.Students

question 69

Multiple Choice

The University of Vancouver offers summer courses from May to August.Students must register and pay in March for the summer courses they will take.The university has a March 31st fiscal year-end and does not recognize the revenue from the summer courses until the new fiscal year.Which revenue recognition criterion prevents them from recognizing the revenue in March?

• A)The collectability of the amount is uncertain.
• B)The amount of revenue cannot be reasonably measured.
• C)The costs required to earn the revenue cannot be reasonably measured.
• D)The university has not done most or all of what it has to do in order to earn the revenue.

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Definitions:

Ethanol Production

The process of converting biomass and crops into ethanol, a renewable fuel.

Ethanol Fuel

A biofuel alternative to gasoline, made from corn, sugarcane, or other plant biomass, which is used to power vehicles and reduce greenhouse gas emissions.

Aging Process

The natural sequence of physical, psychological, and social changes that occur as living beings advance in age.

Tomatoes

A widely cultivated fruit, botanically a berry, consumed in diverse ways, including raw, as an ingredient in many dishes and sauces, and processed into products like ketchup.