Purchases and sales of foreign assets by domestic residents would appear in the ________ account of the balance of payments

Which of the following is true about revenue recognition under ASU 2014-09?

A) The realization principle guides the ASU. B) Construction contracts are typically broken into the various separate goods and services that are included in them for purposes of revenue recognition. C) The time value of money is considered when estimating all transaction prices. D) Collectibility of the receivable is considered when determining whether revenue can be recognized.

Identify how the passive activity loss rules broadly classify various types of income and losses. Provide examples of each category