Write your answer in at least 10 sentences for each question, Question 13: Explain, using your own
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Write your answer in at least 10 sentences for each question,
Question 13: Explain, using your own words: what is the revenue recognition principle? Give an example of the revenue recognition principle. Why do you think this rule might be important? (in other words: if we didn't have this rule in place, what kind of problems do you think we could run into?) _
Question 14: Describe the operating, investing and financing section of the statement of cash flows. Give examples of each type of activity. Why do you think the statement of cashflows is split up into these 3 parts? (in other words: why don't we just lump all cash flows together?)
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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