The Four Conditions That Must Exist,according to the SEC,before Revenue

question 48

Multiple Choice

The four conditions that must exist,according to the SEC,before revenue should be recognized include all of the following except

• A) there is a reasonable assurance the amount is collectible.
• B) a selling price has been determined.
• C) delivery will occur or services will be rendered within 30 days.
• D) persuasive evidence of an arrangement exists.

Analyze the impact of supply and demand shifts on market equilibrium.

Recognize the concept of equilibrium price and quantity in the market.

Understand the outcomes of market disequilibrium.

Appreciate the role and impact of price ceilings and price floors.