Which of the Following Is Not a Reason Why Revenue

question 56

Multiple Choice

Which of the following is not a reason why revenue is recognized at time of sale under the earnings approach?

• A)The earning process is substantially complete.
• B)The amount is reasonably measured.
• C)Title legally passes from seller to buyer.
• D)All of these are reasons to recognize revenue at time of sale.

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Definitions:

Distortion

The alteration of the original shape or other characteristic of something, often leading to a misrepresentation of reality.

Cognitive Changes

Refers to alterations in cognitive functions such as memory, problem-solving, and attention span that can occur due to various factors including age, disease, or environmental influences.

Implicit Memory

Automatic memories based on repetition and apparently not requiring any conscious effort to retrieve.

Explicit Memory

Memory for specific information, including autobiographical information, such as what you had for breakfast, and general knowledge, such as state capitals.