Which of the following does not describe a characteristic of revenue recognition? Cash must be received from the customers. Revenue can be measured with reliability. Revenue has been earned at a point of sale or services performed. Revenue has been earned at an objectively determined point in the operating cycle. Internal controls: aid in accurate recordkeeping. produce financial statements in a timely manner. ensure compliance with laws and regulations. All of the above A qualified auditor's report: provides overall assurance that the financial statements are presented fairly. indicates that the financial statements may not be presented fairly. O is prepared by the board of directors. None of the above Which of the following is a criterion to determine if an expenditure is capital in nature? If it will benefit more than one accounting period If it will enhance the service potential of an asset Whether the dollar amount is immaterial If it will make the asset more valuable All of the above are applicable criteria for capitalizing an expenditure