The Criteria for Recognition of a Liability Include Which of the Following

question 191

Multiple Choice

The criteria for recognition of a liability include which of the following?

• A)The obligation represents a present obligation, not a potential future commitment or intent.
• B)The obligation exists as a result of a past transaction or exchange, called the obligating event.
• C)The obligation requires the probable future sacrifice of an economic resource that the firm has little or no discretion to avoid.
• D)The obligation has a relevant measurement attribute that the firm can quantify with sufficient reliability.
• E)all of the above

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Definitions:

Selling Process

A sequence of steps taken by a seller to persuade a potential buyer to make a purchase, typically including stages such as prospecting, presenting, handling objections, and closing the sale.

Need-Satisfaction

A sales approach focused on identifying and meeting the explicit needs of the customer.

Sales Presentation

A formal pitch or display of a product or service aimed at persuading potential buyers to make a purchase.

Sales Presentation Methods

Various strategies or techniques used in delivering a sales presentation, tailored to effectively communicate the value proposition and engage the potential customer.