Under USGAAP,what Is a Condition for Revenue to Be Realized or or Realizable

question 128

Multiple Choice

Under U.S.GAAP,what is a condition for revenue to be realized or realizable?

• A)Cash or fixed claims to cash are received.
• B)Contracts are written as per negotiations.
• C)The company receives the right to bill with expectation of payment.
• D)Both A & C

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Definitions:

Catastrophic Expectations

The tendency to anticipate the worst possible outcomes, often seen in anxiety disorders, which can amplify stress and hinder effective coping mechanisms.

Biological Needs

Basic requirements for human survival, such as food, water, shelter, and oxygen, which are necessary for maintaining physiological balance.

End-goals

The ultimate objectives or outcomes that a person aims to achieve, often motivating actions and decisions.

Impasse

A deadlock or situation where no progress can be made or no advancement is possible.