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.

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Definitions:

Organizational Effectiveness

The capability of an organization to achieve its goals and objectives efficiently, effectively, and to satisfy its stakeholders.

Positive Emotions

Feelings that are characterized by pleasurable engagement with the environment, such as joy, gratitude, and contentment.

Job Satisfaction

The level of contentment or happiness an individual feels towards their job, based on various aspects like work environment, salary, and duties.

Job Performance

The degree to which an employee executes their assigned duties and responsibilities effectively and efficiently.