What generally determines when a performance obligation is satisfied and an account receivable is recognized? a. The concept of change of control by transferring goods or services to a buyer b. The concept of understanding shipment details and dates c. A performance obligation recognition is determined by the point at which payment is made by the buyer of goods or services. d. A performance obligation recognition is determined by the point at which contractual arrangements have been finalized between buyer and seller.

Cryptocurrencies, such as Bitcoin, are extremely volatile digital assets. Although the FASB has not made a final determination on GAAP treatment of cryptocurrencies, they represent something a company owns (therefore, an asset). Current thinking is that the most likely valuation of cryptocurrencies should be a. at fair market value, with increases and decreases in fair value recognized in comprehensive income in each reporting period. b. at fair market value, with increases and decreases in fair value recognized in net income in each reporting period. c. at fair market value, with this valuation shown in property, plant and equipment on the period-end balance sheet. d. at historical cost, with increases and decreases measured by impairment of the underlying cryptocurrency.