Reference no: EM132680304

Problem 1: discrete earnings process often

1- includes a critical event.

2- includes confidential information.

3- requires that revenues can only be recognized after full payment has been received.

4- requires that goods be sold at a substantial discount.

Problem 2: Which of the following is typically not a characteristic of a constructive obligation?

1- It is a term that is explicitly stated in the contract.

2- It may be created through past practice or experience.

3- It may be created though a signal to potential customers.

4- It is not legally enforceable.