Which of the Following Is a Condition Required by the SEC

question 89

Multiple Choice

Which of the following is a condition required by the SEC for the recognition of revenue?

• A)Completion of goods manufactured.
• B)Execution of a promissory note.
• C)Price in excess of $100.
• D)Reasonable assurance of collection.

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Definitions:

Recognition

The ability or action of identifying or acknowledging something or someone as already known or familiar.

Impulse Buy

A purchase made spontaneously, often without prior planning, driven by emotional response rather than thoughtful decision-making.

Magazines

Publications, usually periodical, containing articles, photographs, and advertisements in specific interest areas.

Checkout Lane

A passage or counter in a store where customers pay for their purchases.