When Following ASPE,all of the Following Criteria Must Be Satisfied

question 41

Multiple Choice

When following ASPE,all of the following criteria must be satisfied in order to recognize revenue for the sales of goods under the earnings based approach,except

• A)the service has been performed.
• B)the risks and rewards have been transferred to the customer.
• C)the seller has no continuing involvement.
• D)collection is reasonably assured.

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Definitions:

Reporting Progress

Communicating updates on the advancement or development of a project or work.

Progress Report

A document or presentation that outlines the development or advancement in a project or task.

Progress Report

A document that updates on the advancements or developments in a specific project or activity.

Creating Report

The process of compiling information, analysis, and findings into a structured document to present research, progress, or results.