Which of the Following Is Not an Indicator That Revenue

question 139

Multiple Choice

Which of the following is not an indicator that revenue can be recognized over time?

• A)The seller is enhancing an asset that the buyer controls as the service is performed.
• B)The customer consumes the benefit of the seller's work as the seller performs the service.
• C)The seller is creating an asset that has an alternative use to the seller,and the seller can receive payment for its progress even if the customer cancels the contract.
• D)None of the other answers is correct.

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Definitions:

Law Firm

A business enterprise formed by one or more lawyers to engage in the practice of law, providing legal services to clients.

Corporation

A legal entity that is separate and distinct from its owners, which can own property, enter into contracts, sue and be sued.

Document-Creation Skills

The ability to create written documents effectively and efficiently, often involving the use of computer applications and understanding of formatting and content organization.

Legal Research

The process of identifying and retrieving information necessary to support legal decision-making, including statutes, case law, and legal precedents.