The Core Revenue Recognition Principle Has Two Requirements for Recognizing

question 18

Multiple Choice

The core revenue recognition principle has two requirements for recognizing revenue. Which of the following is one of these requirements?

• A)The customer has paid for the goods or services.
• B)Delivery of goods or performance of service has occurred or is scheduled to occur.
• C)The amount the company expects to receive is determinable.
• D)The customer has signed a contract.

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Definitions:

Glycosidic Bonds

Covalent bonds that connect sugar molecules in carbohydrates, crucial for the structure of various polysaccharides and glycoconjugates.

Uridine

A nucleoside consisting of a molecule of uracil attached to a ribose sugar molecule, part of RNA.

Nitrogens of Adenine

Refers to the nitrogen atoms in the adenine molecule, a nucleobase essential in forming DNA and RNA, that participate in hydrogen bonding and base pairing.

Nucleoside

A compound consisting of a nitrogenous base bound to a sugar molecule, forming the basic building blocks of nucleic acids without the phosphate group.