Select the Correct Revenue Recognition Principle for Each of the Following

question 146

Multiple Choice

Select the correct revenue recognition principle for each of the following. (Choices may be used more than once.)
-rent

• A)Recognize revenue over the passage of time.
• B)Recognize revenue when the customer takes possession of the product.
• C)Recognize revenue when cash is collected.
• D)Recognize revenue when service is performed.

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Definitions:

Sympathetic

Pertaining to the part of the autonomic nervous system that typically prepares the body for action in stressful situations, activating the fight-or-flight response.

Id

In psychoanalytic theory, the part of the psyche that is the source of instinctual impulses and demands for immediate satisfaction of primitive needs.

Primitive Instinctive

Primitive instinctive behavior refers to basic, innate responses or actions that are not learned but are present from birth, aimed at survival and reproduction.

Five-Factor Model

A theory identifying five main personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism, as the basic structure of personality.