The Earnings Cycle Is Complete Under Two Conditions: ________ and ________

question 226

Multiple Choice

The earnings cycle is complete under two conditions: ________ and ________.

• A) revenue recognition; matching
• B) the sale is complete; the customer has paid the company
• C) at least two years have passed; the customer has paid the company
• D) the sale is complete; the customer has promised to pay the company
• E) the cost of goods sold has been determined; operating revenues exceed operating expenses

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Definitions:

Arbitrators Bias

A situation where an arbitrator shows partiality or prejudice, affecting their neutrality in dispute resolution.

Federal Arbitration Act

A United States federal statute that provides for the enforcement of arbitration agreements and allows for the resolution of disputes outside the court system.

Continuance

A legal term referring to the postponement of a court proceeding or trial to a later date.

Arbitration Costs

The expenses associated with resolving disputes through arbitration, including fees for arbitrators, administration, and sometimes legal representation.