Under Statement of Financial Accounting Concepts No. 8, which of the following is an ingredient of the primary quality of faithful representation?

A.) Completeness

B.)Materiality

C.) Predictive value

D.) Understandability

2.) Business organizations have long recognized that primarily using financial measures such as sales or profitability to measure performance often fails to provide information about the factors that result in success. One of these factors is sustainability. Which of the following is not a pillar of sustainability identified in chapter 5?

A.) Environmental

B.) Physcological

C.) Economic

D.) Social

3.) According to FASB ASC 606, the transaction price:

A.)Excludes discounts, volume rebates, coupons and free products, or services

B.)Excludes time value of money if the contract involves a significant financing component

C.)Is the amount of consideration that a company expects to receive from a customer

D.) Does not consider non-cash consideration such as donations, gifts, equipment or labor