Test Content Question 1 Which statement is the Financial Accounting Standards Board and the International Accounting Standards Board trying to commonize? What would be the new format? Use the editor to format your answer Question 2 Given the following situation when will the company record the revenue from the sale? 5 Points 5 Points C Company B sold $2,650 of merchandise on 1/08 to Customer M. Customer M was granted credit terms to pay of n/30. However in the last few purchased Customer M has not paid within the credit term time frame. When should Company B handle recording the revenue from the sale? Use the editor to formot your answer Question 3 What is the greatest expense for most companies? What are the costs included in this expense? Use the editor to format your answer 5 Points