The GASB Has Created Four "Eligibility Requirements" That Must Be

question 10

True/False

The GASB has created four "eligibility requirements" that must be met before revenue can be recognized: 1) required classification of recipients, 2) timing, 3) reimbursements, and 4) contingencies.

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Definitions:

Investment

Allocation of resources, such as time, money, or effort, in the expectation of generating a future benefit or return.

Composed

Implies being made up of multiple parts or elements; in the context of data, it may refer to a dataset composed of different types of information.

Portfolio Expected Return

The weighted average of the expected returns on the assets contained within an investment portfolio.

Stocks

Shares of ownership in a corporation, representing a claim on the company's assets and earnings.