Which of the Following Is Not a Condition That Must

question 19

Multiple Choice

Which of the following is not a condition that must be met under AASB 118 'Revenue,' before revenue from the sale of goods is recorded?

• A)The cash for the sale has been received.
• B)The amount of revenue and related costs can be measured reliably.
• C)The seller has effectively transferred ownership to the buyer
• D)All of the above are conditions that must be met.

Grasp the importance of adjusting GDP to obtain a more accurate indicator of economic well-being.

Know the implications of changes in private domestic investment on GDP.

Understand the role and impact of different behavioral science disciplines on organizational behavior.

Recognize the importance of critical thinking and evidence-based management in organizational settings.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, opposite to a normal good.

Normal Good

A type of good for which demand increases as the income of individuals increases, indicating a direct relationship between income and demand.

Demand-Increasing Factor

Elements or conditions that lead to an increase in demand for a product or service, such as a rise in consumer income or a change in tastes.