Question 25 (3 points) 25. Revenue is recognized by a consignor of inventory when the A. goods are shipped to the consignee. B. consignee receives the goods. D. consignor receives a notice of sale from the consignee and cash has been received. C. consignor receives an advance from the consignee. Question 26 (3 points) 26. As you get closer to the expiration of an option, the time value of the option will: OC. Stay the same A. Increase B. Decrease Question 27 (3 points) 27. Which accounting standards require that the convertibility feature of convertible debt be separately recorded in equity upon issuance of the bonds? O US GAAP Neither A nor B IFRS Both A and B Question 28 (3 points) 28. An option premium is equal to the time value plus: C. Put value D. Intrinsic value O A. Call value OB. SAR value Question 29 (3 points) 29. What section of the balance sheet is the unearned compensation account recorded in a restricted stock situation? C. Equity D. None of the above A. Assets B. Liabilities Question 30 (3 points) 30. Under the FASB's new revenue recognition standard, the overall revenue recognition principle is to recognize revenue in the period when the performance obligation is satisfied True False