Revenue from the Earnings of a Particular Transaction Is Able

question 57

True/False

Revenue from the earnings of a particular transaction is able to be reported as soon as the product or service is delivered.

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Definitions:

Sarbanes-Oxley Act of 2002

A U.S. federal law that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms, aiming to protect investors from fraudulent financial reporting.

Enron

An American energy company that collapsed in 2001 amid revelations of widespread corporate fraud and corruption.

Exclusionary Rule

A rule of law in the United States that bars the use of evidence obtained or examined in contravention of the defendant's constitutional protections in legal proceedings.

Supreme Court

The Supreme Court is the highest judicial body in a country, typically having the ultimate jurisdiction over all other courts.