Would it be appropriate to recognize revenue at completion of production rather than at the point of
Question:
Would it be appropriate to recognize revenue at completion of production rather than at the point of sale?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
Control is central to the recognition of revenue That is pursuant to AASB 15 revenue recognition is ...View the full answer
Answered By
Isaiah Mutinda
As a graduate with Bs in Maths and Computer Science and having worked as a freelance full stack software developer for 3 years running I believe I have what it takes to conformable tutor and mentor a student to a professional developer also.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A company believes that it is subject to scrutiny by particular interest groups such as employee unions because it is earning excessive profits. Do you think that this might influence whether the...
-
Revenue earned by a business enterprise is recognized for accounting purposes at different times, according to the circumstances. In some situations, revenue is recognized approximately, as it is...
-
The earning of revenue by a company is recognized for accounting purposes when the transaction is recorded. In some situations, revenue is recognized approximately as it is earned in the economic...
-
Consider the following data set that contains information about a sample of ten vehicles that recorded their gross weight and their fuel efficiency as stated by the manufacturer. Vehicle Vehicle...
-
Describe the major elements and issues with iterative development.
-
Celeste Renard, owner of Sensual Linens Shop, was preparing checks for payment of the current months purchase invoices when she realized that there were two invoices from Passionate Linens Company,...
-
Suppose over the period \([0, T]\) a certain stock pays a dividend whose present value at interest rate \(r\) is \(D\). Show that the put-call parity relation for European options at \(t=0\),...
-
The following list of accounts is taken from the adjusted trial balance of Goforth Company. Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $45,000...
-
Alexis and Tomas meet with their insurance agent, Pat. After a thorough needs analysis, Pat recommends that Alexis set up a spousal RRSP tot Tornas Pat has them complete a risk tolerance...
-
1. Pick a futures that you are interested in. ie, a commodity (iron, barley, etc), financial futures (index), etc. 2. State the market your research is based on ie, ASX, CBOE, etc. 3. Put in a price...
-
Income is often subdivided into revenues and gains, but is there a difference between them?
-
On 1 July 2022 Midget Ltd acquired some corporate bonds issued by Farrelly Ltd. These bonds cost $2 277 220 and had a life of four years. They had a face value of $2 million and offered a coupon rate...
-
Machinery purchased for $56,000 by Wong Corp. on January 1, 2015, was originally estimated to have an eight-year useful life with a residual value of $4,000. Depreciation has been entered for five...
-
Managed care: Group of answer choices provides retrospective payment determined by the number of services provided to a patient. recognizes and maintains separate responsibilities for the payer and...
-
Indicate whether each of the following items normally would be considered a capital expenditure (C) or a revenue expenditure (R). Oil change for company vehicle Replacement of a few roof shingles to...
-
You will see that you will be asked to make three separate changes to the base scenario. These changes are noted on three separate spreadsheet worksheets (commonly called "tabs"). The first two...
-
__________ audit is needed to ensure that no nonconforming products are shipped, it promotes partnership that ensures better understanding of customer expectations. Group of answer choices Compliance...
-
Which statement BEST captures the changes in employment rates for mothers employed outside the home between 1955 and 2018? The maternal employment rate has tripled. The maternal employment rate has...
-
Hydrogen peroxide is used as a cleaning agent in the treatment of cuts and abrasions for several reasons. It is an oxidizing agent that can directly kill many microorganisms; it decomposes upon...
-
10m solution. If Ka(HA) = 10 then pOH of solution will be [Given : log4=0.6] (A) 6.7 (B) Greater than 6.7 & less than 7.0 (C) Greater 7.0 & less than 7.3 (D) Greater than 7.3
-
Presented below are five independent situations. (a) Three physics professors at MIT have formed a business to improve the speed of information transfer over the Internet for stock exchange...
-
Financial decisions often place heavier emphasis on one type of financial statement over the others. Consider each of the following hypothetical situations independently. (a) The North Face, Inc. is...
-
Financial decisions often place heavier emphasis on one type of financial statement over the others. Consider each of the following hypothetical situations independently. (a) The North Face, Inc. is...
-
Discuss the concept of "cultural fit" in recruitment and its implications for organizational diversity and inclusion efforts. How can companies balance cultural fit with the need for diverse...
-
11) The Technical Services Department of Georgia State University leased a photocopy machine for $1,500 per month plus $0.04 per copy. Additional budgeted variable operating costs were $0.02 per...
-
17. A company uses a static budget approach and the previous management accountant calculated the following information: Fixed costs variance $10,000 U; revenues variance $400,000 F; contribution...
Study smarter with the SolutionInn App