Acontract does not exist for purposes of applying the revenue recognition principle in all of the following cases except for when: a. the seller believes it is not probable that it will collect the amount it's entitled to receive under the contractb. the seller and buyer did not sign a formalized written contractc. the seller and buyer can terminate the contract without penalty and neither has performed any obligations under the contract. d. the seller believes it is highly likely but not certain that the buyer will agree to the terms of the contract.

You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?