Which of the Following Misstatements Is Not Related to the Completeness

question 11

Multiple Choice

Which of the following misstatements is not related to the completeness assertion for revenue?

• A)Goods are shipped, but revenue is not recorded.
• B)This year's revenue is recorded next year.
• C)Next year's revenue is recorded this year.
• D)Revenue is not recognized for services that have been performed.

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Definitions:

Increasing Returns

The situation in which output increases by a larger proportion than the increase in inputs used in production.

Workers

Individuals who perform tasks or work for compensation, typically within the structure of employment by organizations or companies.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Total Product

The total quantity of output produced by a firm from a given quantity of inputs during a certain period of time.