Respuesta :
The word "policy" should be included in the list of major accounting policies. The sole policy among the options is the one pertaining to revenue recognition. The correct answer is option (D).
What is Revenue Recognition?
The goal of revenue recognition is to determine when a company has truly made money. Revenue is typically recorded whenever the performance requirements are deemed satisfied, and the organization can easily quantify the financial amount.
The commitment to offer a consumer a "unique" commodity or service is known as a performance obligation. Although it can appear straightforward at first, whether or not a performance obligation is regarded met depends on a number of different things. A company's financial reporting accuracy directly depends on accurate revenue recognition, hence it is essential.
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