Explain when revenue may be recognized and give an example.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 43% (16 reviews)
Under the revenue recognition principle revenue is recognized or recorded in the period when the r...View the full answer
Answered By
Surojit Das
I have vast knowledge in the field of Mathematics, Business Management and Marketing. Besides, I have been teaching on the topics Management leadership, Business Administration, Human Resource Management, Business Communication, Accounting, Auditing, Organizer Behaviours, Business Writing, Essay Writing, Copy Writing, Blog Writing since 2020. It is my personality to act quickly in any emergency situations when students need my services. I am very professional and serious in every questions students asked me at the time of dealing any projects. I have been serving detailed, quality, properly analysed research paper through the years.
4.80+
91+ Reviews
278+ Question Solved
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Question Posted:
Students also viewed these Accounting questions
-
Describe the structure of the worksheet and the accounting information it contains.
-
Describe the recording of transactions that begin and end at a particular point in time and the recording of continuous transactions.
-
The following information describes transactions for Morgenstern Advertising Company during July: a. On July 5, Morgenstern purchased and received $24,300 of supplies on credit from Drexel Supply...
-
A guitar string has an overall length of 1.25 m and a total mass of 40 g (0.04 kg) before it is strung on the guitar. Once on the guitar, however, there is a distance of 64 cm between its fixed end...
-
In problem 1, if the S&P Index futures contract goes up to $1,283.60, what will be the total dollar profit on the contract? What is the percent return on the initial margin? If this price change...
-
Review and justify the placement of the seven types of conflicts into the nine cells of Table 4-1 . Categories of Comflict Parties-at-Interest Project team Authority Interpersonal Goals Schedules...
-
List three elements of the auditor's pre-engagement investigation.
-
The following control procedures are used in Bunny's Boutique Shoppe for cash disbursements. 1. Each week, 100 company checks are left in an unmarked envelope on a shelf behind the cash register. 2....
-
Paypal was rumored to be in talks to acquire Pinterest for a 25% premium. Assume that the two companies reached agreement on that basis. Using the stock prices given below (assume that the premium...
-
What is meant by the term decision analysis?
-
What is the relationship between the accounting cycle and the worksheet?
-
What happens during the accounting cycle?
-
Internet purchases are thought to be highly sensitive to tax rates, and applying sales taxes to all such purchases substantially reduces the number of online buyers and the amount of online spending....
-
An electron enters a region of space containing a uniform 2.77 10-5 T magnetic field. Its speed is 135 m/s and it enters perpendicularly to the field. Under these conditions, the electron undergoes...
-
A 12,500 kg jet airplane starts its takeoff from rest on a runway. Its engines generated 38,811 N of thrust during the first 80 meters of the plane's motion. How much work was done by the engines?
-
On January 3 , 2 0 1 9 , issues $ 2 0 , 0 0 0 shares of common stock for cash.On January 5 , 2 0 1 9 , purchases equipment on account for $ 3 , 5 0 0 , payment due within the month.On January 9 , ...
-
The representative agent lives for two periods (1 and 2) and receives exogenous incomes of y and y, respectively. The lifetime utility function is given by: 1-o C V(c, c) = +. 1-o clo 1-o with 3( <1)...
-
Canadian Healthcare system. What is the future of healthcare in Canada? 2. Freedom of Speech in Canada. How is it compared to your home country? 3. Guns in Canada. Gun violence and how it affects our...
-
Questions 13-15 refer to the following passage. What can be inferred about the proposed solution mentioned in the final paragraph? a. Continued experimentation with nuclear weapons could restore the...
-
Write an essay describing the differing approaches of nursing leaders and managers to issues in practice. To complete this assignment, do the following: 1. Select an issue from the following list:...
-
Consider the three alternatives: Which alternative should be selected? (a) If MARR =6%? (b) If MARR =8%? (c) If MARR = 10%? Do Nothing Year A -$100 -$150 +30 +43 +43 2 +30 +30 +43 +43 4 +30 +30 +43
-
A firm is considering two alternatives: At the end of 4 years, another B may be purchased with the same cost, benefits, and so forth. If the MARR is 10%, which alternative should be selected? A...
-
Consider the following alternatives: Initial cost Uniform annual benefits Each alternative has a l0-year useful life and no salvage value . If the MARR is 8%, which alternative should be selected? A...
-
The initial margin on a GBP futures contract is $2035 and maintenance is $1850. You buy one contract (62,500 Pounds) at $1.3100 and place $2035 in your account. The price of your contract drops to...
-
1.Define a).Market research transnational firm b).Target market c).Maslow's hierarchy of needs d).ethnocentric polycentric Geocentric Explain Please create a response to the question below that is...
-
Describe one product development recommendation and one market development recommendation for Tesla. Explain why this idea should be adopted by the Tesla EV company in the New Zealand market.
Study smarter with the SolutionInn App