What is a principal factor in the risk-utility test?
A. the value of the product
B. the gravity of the danger
C. the likelihood that danger will occur
D. All of these are correct.
Answer: D
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The recognition of cost of goods sold expense in the same period that sales revenue is recognized from the sale of merchandise is a good example of the
a. matching principle b. full disclosure principle c. revenue realization principle d. historical cost principle
Brasilia, a real estate broker licensed only in Connecticut, con¬cludes a land sale in Delaware. She can
a. collect the commission if it has not been paid. b. keep the commission if it has already been paid. c. foreclose on the property to obtain any unpaid amount. d. not collect the commission, keep it, or foreclose on the property.
Export controls have been extended by the president through the issuance of executive orders pursuant to the USA Patriot Act
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