As a Result of the Revenue Recognition Project by the FASB

question 118

Multiple Choice

As a result of the revenue recognition project by the FASB and IASB:

• A) revenue is no longer recorded unless cash has been received.
• B) revenue recognition places more emphasis on when changes occur in related expenses.
• C) revenue recognition places more emphasis on when revenue is realized.
• D) revenue recognition places more emphasis on when the performance obligation is satisfied.

---

Definitions:

Final Grade

The ultimate evaluation or mark received in a course or class, reflecting the overall performance of a student.

College Size

College size refers to the total number of enrolled students at a college or university, impacting the institution's class sizes, resources, and overall atmosphere.

Income Falls

Describes a situation where there is a decrease in the amount of money earned from employment, investments, or other financial sources.