Which of the Following Is One of the Conditions for Recognition

question 130

Multiple Choice

Which of the following is one of the conditions for recognition of an expense?

• A)There is a reasonable expectation that cash will be received.
• B)The expense can be recognized only when cash is paid.
• C)The goods will be delivered or the services will be provided within the accounting cycle.
• D)The goods or services are used to produce revenue.

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Definitions:

Denial

A psychological defense mechanism where a person refuses to accept reality or facts.

Social Support

The emotional, instrumental, or informational assistance received from social networks, which can provide a buffer against negative life events.

Emotion-Focused Coping

A stress management strategy that involves attempting to reduce negative emotional responses associated with stress, such as embarrassment, fear, anxiety, depression, excitement, and frustration.

Hardy People

Individuals who exhibit resilience and coping ability in the face of stress and adversity, often maintaining a positive outlook.