Define recognition. How is it independent of collecting or paying cash?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
Recognition is the act of recordi...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Recognition Define subsequent events. When should an entity recognize subsequent events in the financial statements?
-
Define stock dividend. How does it differ from a cash dividend?
-
Define restricted cash and indicate how it should be reported on the balance sheet.
-
Since the introduction of enhanced security measures by the U.S. Department of Homeland Security in 2017, flights bound for the U.S. from Canada are subject to additional screening by airline...
-
Survey results are often reported in newspapers, the evening news, magazines, and even on Facebook! Consider a recent survey reported (about any topic!). Should you accept the results of the survey...
-
The circuit diagram shows a battery connected to five lamps. The currents in lamps A and B are shows. Write down the current flowing in a. lamp C, b. lamp E. 3 amperes A B 2 amperes D
-
A proximity probe has a useful frequency range related to what operating parameter?
-
Oral Roberts Dental Supplies has annual sales of $5,200,000. Ninety percent are on credit. The firm has $559,000 in accounts receivable. Compute the value of the average collection period.
-
Because of its high dielectric strength, SF6 (sulfur hexafluo-ride) gas is widely used as an insulator and a dielectric in HV applications such as HV transform-ers, switches, circuit breakers,...
-
Mission statements are critical to a successful marketing organization versus Mission statments rarely provide useful marketing value. What is your interpretation of this statements?
-
What does accrual accounting attempt to accomplish?
-
What does the term deferral mean?
-
Outline and comment briefly on the various policy options available to developing countries governments in their attempt to modify or limit the rate of population growth.
-
The BLS reported for February 2019: Labor force participation rate: 63 percent Working-age population: 258 million Employment-to-population ratio: 60.4 Calculate the a. Labor force. b. Employment. c....
-
News release In the first quarter of 2020, real personal consumption expenditure was $13,117 billion and the PCEPI (the deflator) was 110.88. In the first quarter of 2021, real personal consumption...
-
In May 2020, currency was $1,824 billion; demand deposits were $2,126 billion; other liquid deposits were $12,234 billion; small denomination time deposits were $466 billion; and retail money market...
-
In year 1, an economy is at full employment and real GDP is 350 million, the GDP deflator is 220 (price level is 2.2) and the quantity of money is 50 million. In year 2, the quantity of money is...
-
Ingram went to a used car lot in a large city and bought a used car. On his way home from the lot, the car that he had purchased broke down. The engine stopped running altogether. The used car lot...
-
In what ways do the characteristics of small firms impact upon the marketing approaches and activities that they adopt?
-
Figure displays a 12.0 V battery 3 four uncharged capacitors of capacitances C1 = 4.00F, C2 = 6.00F, and C3 = 3.00F. The switch is thrown to the left side until capacitor 1 is fully charged. Then the...
-
Common sense reasoning employs such notions as causality, analogy, and equivalence but uses them in a different way than do formal languages. For example, if we say, Inflation caused Jane to ask for...
-
Arrow Manufacturing Co. expects to make 50,000 chairs during the 2017 accounting period. The company made 3,000 chairs in January. Materials and labor costs for January were $36,000 and $48,000,...
-
Arrow Manufacturing Co. expects to make 50,000 chairs during the 2017 accounting period. The company made 3,000 chairs in January. Materials and labor costs for January were $36,000 and $48,000,...
-
Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000...
-
Design a power transmission system to connect a DC motor to its load. The motor is given in the motor catalogue as a BM1400 motor. You must create a transmission which will connect to this motor and...
-
SDJ, Incorporated, has net working capital of $3,320, current liabilities of $4,550, and inventory of $4,600. a. What is the current ratio? b. What is the quick ratio?
-
Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent: Original selling price $4,900 First markdown 20% Second markdown 10% Markup 12% Final...
Study smarter with the SolutionInn App