Q1. Which of the following is NOT a requirement for revenue recognition to occur? A) Cash must have been received. B) Earning activities are substantially completed. C) Transactions giving rise to revenue should be arms-length.
Q2. Guidance from the U.S. Securities and Exchange Commission regarding the criteria for revenue recognition least likely specifies that there must be: A) reasonable assurance that the product will be delivered or the service will be rendered. B) evidence of an arrangement between the buyer and the seller. C) a determined or determinable price.
Q3. Depending on certain circumstance, revenue may be recognized: A) Both of these choices are correct. B) at the time of sale and when production is complete. C) when production is complete and as production occurs.
Q4. As a general rule, revenue is normally recognized when it is:
A) earned. B) realizable and earned. C) measurable.
Q5. Under the general principles of accrual accounting, revenue is recognized when: A) earned, and expenses are recognized when incurred. B) cash is received, and expenses are recognized when cash is paid. C) the good or service is delivered or cash is received, whichever is earlier.
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发表于 2009-1-17 08:55
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