Which of the Following Is Not One of the Conditions

question 51

Multiple Choice

Which of the following is not one of the conditions for recognition of an expense?

• A)A price has been established or can be determined.
• B)There is an agreement to purchase goods or services.
• 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:

Concrete Words

Words that describe specific, tangible objects or phenomena, which can be perceived through the senses.

Abstractions

Concepts or ideas that are generalized and not linked to specific instances, enabling higher-level thinking about complex subjects.

Grand Exaggerations

Statements that dramatically overstate a fact or situation, often used for emphasis or effect.

Effective Paragraph

A well-organized block of text that conveys a coherent idea or argument with clarity, precision, and logical flow.