The Principle That States Revenue Should Be Recognized at the Time

question 75

Multiple Choice

The principle that states revenue should be recognized at the time goods are sold or services rendered is called:

• A)Adequate disclosure.
• B)Conservatism.
• C)Matching.
• D)Revenue realization.

Practice correct spelling for complex medical words to enhance medical communication.

Understand the structure of medical words, including suffixes, prefixes, and their roles in determining word meanings.

Understand the significance of specificity and clarity in medical abbreviations to prevent misinterpretation.

Understand and accurately use medical abbreviations.

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Definitions:

External Cost

A cost that is not borne by the parties to an economic transaction, often affecting third parties who did not choose to incur that cost.

Social Cost

The total cost to society as a whole due to an activity or decision, including both direct costs and indirect externalities.

Congested Highway

A highway or roadway that experiences traffic congestion due to a high volume of vehicles, often leading to slower speeds and longer travel times.

Negative Externality

A cost that affects a party who did not choose to incur that cost, often arising from production or consumption of goods and services.