Case 8-10 Biotechnologies

Please read the assigned case above and answer the questions below. Please create one multiple-choice question based on the case with four answer choices. Please create quiz questions based on the major issues of the case. Please do not make true-false, discussion questions and numerical questions. Include the correct answer.

1. Analyze the transactions with both distributors with respect to revenue recognition and how the CFO explained the position of Biotech. Was revenue recognized properly under GAAP? Why or why not?
2. How would you characterize the motivation of Biotech for the way it recorded the transactions? What was the effect on the way earnings were recorded?
3. How would you explain Biotechs responsibilities under SOX? Be specific.
4. Assume Roberts is attempting to determine the firms possible liability for recklessness or fraud depending on whether it accepts the clients explanations. How might she go about the analysis?

Can you try and answer the assigned questions with at least 300 words please? Thank you.