Revenue Should Be Recognised When

question 14

Multiple Choice

Revenue should be recognised when:
(i) it can be reasonably measured in dollar terms
(ii) cash,a promise of cash,or other asset,has been received
(iii) most of the costs of generating the revenue have been incurred,and those remaining can be measured with reasonable accuracy.

• A) (i)and (ii)only
• B) (i)and (iii)only
• C) (ii)and (iii)only
• D) (i),(ii)and (iii).

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Definitions:

In-ground Swimming Pool

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The capability to scrutinize data, identify trends and connections, and tackle challenges that are sophisticated and not concrete.

Paired T-test

An analytical technique that contrasts the averages of two connected groups to ascertain if their difference is statistically significant.

Significance Level

In statistics, a threshold of probability set for rejecting the null hypothesis, indicating the strength of the evidence against the null hypothesis.