What two factors must be considered in deciding the point at which revenues and gains should be

Question:

What two factors must be considered in deciding the point at which revenues and gains should be recognized? At what point in the revenue cycle are these conditions usually met?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

See More Books

Question Posted: Jan 28, 2012 05:39 AM

See More Questions

What two factors should be considered in deciding how to allocate shelf space in a retail establishment?
What environmental factors must be considered in analyzing companies?
What two factors must be considered when breaking down a variance into its components? Explain.
A mixture of 1 kmol carbon dioxide, 2 kmol carbon monoxide, and 2 kmol oxygen, at 25C, 150 kPa, is heated in a constant pressure steady state process to 3000 K. Assuming that only these same...
Caterpillar dominates the construction and earth-moving equipment industry, with $50 billion per year in revenues. Komatsu, its next closest competitor, does $25 billion. However, Caterpillar has not...
Jupiter has a perihelion (closest distance to sun) of rp = 740 x 10 6 km and an aphelion (most distant position from sun) of ra = 817 x 10 6 km. With the information given below: a) Calculate...
The $45^{\circ}$ off-axis test shown in Figure 10.37 is conducted on a 10 in. $\times 1$ in. $\times 0.1$ in. $(254 \mathrm{~mm} \times 25.4 \mathrm{~mm} \times 2.54 \mathrm{~mm})$...
You have been asked to advise a business-to-business manufacturing company how to detect fraudulent financial reporting. Management does not understand how early revenue recognition by backdating...
Calculate the cost of debt. Calculate the cost of equity. Calculate the weight of debt and equity. Calculate the WACC. Table 4 Stock Info Amount Bond Info Amount Shares Outstanding 100 Face value...
Unstuff the following frame payload in which E is the escape byte, F is the flag byte, and D is a data byte other than an escape or a flag character. D DEF E D DD DE E
How are revenues and expenses different from gains and losses?
On June 1, 2010, Chloe Inc. purchased as a long-term investment 800 of the $1,000 face value, 9% bonds of Logan Corporation for $731,052. The bonds were purchased to yield 11% interest. Interest is...
Consider a hospital for which XRay = 56,194, BedDays = 14,077.88, and LengthStay = 6.89. A 95 percent prediction interval for the labor hours corresponding to this combination of values of the...
What workplace distractions contribute to poor listening?
What is the imperative mood, and why is it preferred over the indicative mood?
Explain the difference between brainstorming and brainwriting.
What is the benefit of dovetailing sentences within a paragraph?
What employability skills are Canadian employers looking for in an employee?
corporation is resisting the personal holding company tax, but the Tax Court sides with the IRS. Within 90 days after the adverse decision, one shareholder transfers his stock and $10,000 in cash to...
Determine by direct integration the values of x for the two volumes obtained by passing a vertical cutting plane through the given shape of Fig. 5.21. The cutting plane is parallel to the base of the...
Nine blocks are placed in a tray as shown below, (a) How many different configurations of the blocks may be obtained by sliding them about in the tray? (b) How many different configurations of the...
Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hingess journal entry.
Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hingess journal entry.
Wool ford Inc. declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stockholders of record on August...
Question: d. ?During December, Ingrid Legal Services provided legal services, and the client prepaid $7,000. ?Ingrid Legal Services recorded this amount as Unearned Revenue. The job will take several...
Question: A company had the following purchases and sales during the month of November:\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[November 1,Beginning inventory,5 units @...
Question: Tania, Inc. issued a note payable with principal and interest due at the end of the term of the note. Details about the note payable are as follows:Issuance date: October 1, fear...

What two factors must be considered in deciding the point at which revenues and gains should be

Question:

Step by Step Answer:

The following two factors must be considered when deciding at what point revenues and gains should ...View the full answer

Intermediate Accounting

Students also viewed these Accounting questions