Which of the Following Is One of the Conditions for Recognition

question 130

Multiple Choice

Which of the following is one of the conditions for recognition of an expense?

• A)There is a reasonable expectation that cash will be received.
• B)The expense can be recognized only when cash is paid.
• C)The goods will be delivered or the services will be provided within the accounting cycle.
• D)The goods or services are used to produce revenue.

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Definitions:

Functional Conflict

Is constructive and helps task performance.

Cooperative

An organization owned and operated by its members for their mutual benefit, often emphasizing democratic decision-making.

Creativity

Creativity involves generating new and original ideas, approaches, or solutions, characterized by the ability to see things in novel ways and find unique solutions to problems.

Active Listening

The practice of fully concentrating, understanding, responding, and remembering what is being said in a conversation.