Which of the Following Does Not Apply to a Seller

question 78

Multiple Choice

Which of the following does not apply to a seller who is a principal?

• A) Has control over goods or services
• B) Primarily responsible for providing goods or services to customer
• C) Exposed to risks associated with holding inventory
• D) Primary performance obligation is to facilitate the transfer of goods or services

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Definitions:

Disclosing Reasons

The act of providing explanations or justifications for a decision or action, often in a formal or official context.

Administrative Laws

Administrative laws are the body of law that governs the activities of administrative agencies of government, covering areas such as rulemaking, adjudication, or enforcement of a specific regulatory agenda.

Broad Policy Statements

General guidelines that outline an organization's objectives and the principles it will follow to achieve those objectives.

Compliance

The act of adhering to laws, regulations, standards, or guidelines set forth by governing bodies or industry organizations.