The Two Criteria That Need to Be Met in Order

question 53

Multiple Choice

The two criteria that need to be met in order revenue to be recognized are

• A) Work has been started and cash collection is reasonably assured.
• B) Work has been started and cash collection has occurred.
• C) Work has been substantially completed and cash collection is reasonably assured.
• D) Work has been substantially completed and cash collection has occurred.

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Definitions:

Television

A telecommunication medium used for transmitting moving images in monochrome, color, or in three dimensions.

Mass Coverage

A term generally referring to the extensive reach or exposure of a product, service, or message across a wide audience.

Personal Selling

A direct marketing approach involving face-to-face sales presentations and interactions between salespersons and potential customers.

Advertising

The activity of creating and disseminating messages to promote products, services, or ideas to potential customers.