Which of the Following Is One of the Steps for Recognizing

question 245

Multiple Choice

Which of the following is one of the steps for recognizing revenue?

• A) Identify the performance obligations of the contract.
• B) Determine whether bad debts can be reasonably estimated.
• C) Estimate the total transaction price of the contract based on fair value.
• D) Allocate all revenue to the performance obligation with the largest stand-alone selling price.

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Definitions:

Humanistic

The humanistic approach emphasizes the study of the whole person and the uniqueness of each individual, focusing on personal growth and self-actualization.

Democratic

Pertaining to a system of government or organization where power is exercised equally among members, often through elected representatives.

Behavioural Science

An interdisciplinary field studying human and animal behavior through the systematic analysis and investigation of behavior patterns and processes.

Organizational Development

An area of study and operation committed to broadening the understanding and efficiency of individuals in achieving more effective organizational transformation and outcomes.