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

Apply the criteria of successful comparative inference to evaluate the validity of comparisons.

Recognize the application of comparative reasoning in various contexts, including scientific, legal, and everyday reasoning.

Differentiate between strong and weak comparative reasoning using the criteria of simplicity, testability, and comprehensiveness.

Explain the role of familiarity in enhancing the effectiveness of comparative reasoning.

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Definitions:

Noise

Unwanted or disruptive sounds or signals that interfere with the communication or processing of information.

External Disturbances

Events or forces outside of an individual's or organization's control that can affect performance, operations, or conditions negatively.

Internal Disturbances

Disruptions or instabilities within an organization or system that affect its operation or efficiency.

Electronic Communication

The ability to transmit messages through e-mail, Skype, videoconferencing, blogs, fax, instant messaging, texting, and social networking.