A Realization of Gain or Loss Occurs

question 21

Multiple Choice

A realization of gain or loss occurs

• A)When the seller has an unqualified right to collect the purchase price
• B)When the seller receives cash or cash equivalents in payment of the purchase price
• C)When possession of the burdens and benefits of ownership are transferred to the buyer
• D)Under any circumstance listed above, depending in part on the accounting method used by the taxpayer

---

Definitions:

Biohazard Bag

A container designed to collect and dispose of substances that are hazardous to health, such as medical waste.

Nursing Assistive Personnel

Healthcare workers who provide basic nursing care under the supervision of registered nurses or physicians.

Handwashing

The act of cleaning hands with soap and water or sanitisers to remove dirt, germs, and other harmful substances, considered a primary measure to prevent infections.

Physiological Changes

Alterations in the normal function or structure of the body that may occur due to various factors, such as aging, disease, or environmental conditions.