In determining whether the promise to deliver goods and services is separate from other promises the accountant must often rely on ________.
A) professional skepticism
B) professional judgment
C) professional standards
D) standards of conduct

Question

Quizplus · Accepted Answer

Professional judgment is the ability to make sound decisions and recommendations based on one's knowledge, experience, and understanding of the relevant facts and circumstances. In the context of accounting, professional judgment is used to determine whether the promise to deliver goods and services is separate from other promises.

In Determining Whether the Promise to Deliver Goods and Services