"VSOE" Is Necessary to Separately Recognize Revenue in Multiple-Element Contracts

question 136

Multiple Choice

"VSOE" is necessary to separately recognize revenue in multiple-element contracts for:

• A) All service contracts.
• B) All product contracts.
• C) All contracts that involve at least one non-software element.
• D) Software contracts.

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Definitions:

Separation of Powers

A principle of governance where the state's powers are divided among distinct branches to prevent any one group from gaining too much power.

Federalism

A system of government in which power is divided between a central (national) government and regional (state or provincial) governments.

Directly Elected

Describes a system where officials are chosen by voters directly, rather than by an intermediary body or appointment.

Article II

A section of the United States Constitution that outlines the executive branch of the federal government, including the powers and responsibilities of the president.