The General Accounting Standards for Recognition and Measurement of Accounts

question 57

Multiple Choice

The general accounting standards for recognition and measurement of accounts receivable include

• A) measuring the receivable initially at amortized cost.
• B) measuring the receivable initially at fair value.
• C) after initial recognition, measuring the receivable at fair value.
• D) not recognizing the receivable until it is paid.

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Definitions:

Purchasing-supplier Satisfaction Model

A framework for evaluating the relationship and satisfaction levels between buyers and suppliers in procurement.

Fairness

The quality of being impartial, just, and equitable in decisions, treatments, and interactions among individuals or groups.

Stability

The state of being steadfast and not prone to change, which ensures reliability and predictability in processes or systems.

Weighted Point Evaluation

A method used to evaluate and compare suppliers based on certain criteria, where each criterion has a different level of importance or "weight".