Which of the Following Is a Component of the Revenue

question 7

Multiple Choice

Which of the following is a component of the revenue recognition principle?

• A) Cash is received and the amount is material.
• B) Recognition occurs when the performance obligation is satisfied.
• C) Production is complete and there is an active market for the product.
• D) Cash is realized or realizable and production is complete.

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Definitions:

Ngo Dinh Diem

The first president of South Vietnam, serving from 1955 until his assassination in 1963.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the late 1940s to the early 1990s, characterized by mutual suspicion, ideological conflicts, and a race for military and technological superiority.

America's Image

The perception or representation of the United States as viewed by its citizens and the global community.

Martin Luther King Jr.

An influential American civil rights leader known for his advocacy for nonviolent protest against racial discrimination during the 1950s and 1960s.