Which of the Following Is NOT True of Presenting the Results

question 21

Multiple Choice

Which of the following is NOT true of presenting the results of the report orally?

• A)You only need one of the key people for the presentation.
• B)It is to succinctly present the information.
• C)It provides an opportunity for questions and discussions.
• D)It may be accomplished through a simple conference with the client.
• E)It may be a formal presentation to a roomful of people.

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Definitions:

Recognition

The process of recording an accounting transaction or event in the financial statements once it meets the criteria for financial reporting.

Fixed-Price Construction Contracts

Construction contracts where the contractor agrees to a set price for the contracted work, regardless of the actual costs incurred.

Revenue Recognized

The process of recording revenues in the financial statements when they are earned and measurable, regardless of when cash is received.

Accounting Period

The specific time span for which financial information is reported, generally a quarter or a year.