What conditions need to be met before expenses can be recognised?
Question:
What conditions need to be met before expenses can be recognised?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (2 reviews)
In accounting expenses are recognized when certain conditions are met in accordance with the accrual basis of accounting The accrual basis of accounti...View the full answer
Answered By
ROXAN VEGA
I have extensive hands-on experience and proficiency in assisting students in various subjects. During my tutoring sessions, I prioritize creating a supportive and engaging learning environment. I strive to understand each student's unique learning style and tailor my teaching methods accordingly. I am patient, empathetic, and skilled at breaking down complex concepts into simpler, more manageable parts. I encourage active participation and discussion, promoting critical thinking and problem-solving skills.
One of my strengths as a tutor is my ability to adapt to different learning needs and styles. I can explain difficult concepts using real-life examples, visual aids, or interactive exercises, depending on what works best for the student. I also provide clear explanations, answer questions, and offer guidance in a clear and concise manner.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
Question Posted:
Students also viewed these Business questions
-
What conditions need to be met before income/revenue can be recognised?
-
Part A Contracts and UCC Article Question Required: What law applies to this sales transaction? Does Mark have a defense to perform the contract (buying the lot)? Why or why not? Explain. Would your...
-
The general manager of Telco Limited is considering spending $15 million on the development of a new mobile phone that can also be used as a television. What conditions would need to be met before...
-
a. Firm A has a margin of 14%, sales of $640,000, and ROI of 18%. Calculate the firm's average total assets. b. Firm B has net income of $72,000, asset turnover of 1.40, and average total assets of...
-
What are the advantages of using restricted shares to compensate employees?
-
For purposes of topic 830, what is a highly inflationary economy and how is a highly inflationary economy determined?
-
In March 1979 one of the worst nuclear accidents in the United States occurred at the Three Mile Island nuclear plant in Pennsylvania. One of the nuclear reactors (Unit 2) at the plant had a partial...
-
At December 31, 2013, Weiss Imports reported this information on its balance sheet. Accounts receivable $600,000 Less: Allowance for doubtful accounts 37,000 During 2014, the company had the...
-
Question 1 Which class is needed to read data from the console? Input System Reader Scanner 1 pts
-
An income statement shows profit and loss for the period and total changes in equity other than those resulting from transactions with owners as owners. Provide three examples of these changes in...
-
Knowledge Ltd provides one-day training programs on accounting. It charges $5000 per day. The following events occurred during May 2019. a. Received $20 000 from accounts receivable for sales in...
-
Where adequate facilities are not present in a market, a firm may decide to undertake what?
-
GROUP DISCUSSION BEFORE CLASS STARTS : 1. WHAT IS CHANGE 2. WHY PEOPLE RESIST CHANGE 3. SOURCES OF RESISTANCE TO CHANGE 4. TACTICS FOR OVERCOMIMG RESISTANCE TO CHANGE.
-
Assuming that the directors decide to declare total dividends in the amount of $393,900, determine how much each class of shares should receive if the preferred shares are non-cumulative and...
-
How does an entrepreneur optimally use the Internet to advertise his/her business?
-
What to consider before designing an application for an organization Examples of companies that have used apps in their organization. What things can make the app attractive to the consumer?
-
In the context of one of the examples you provided in question, define the meaning of ethical business behavior.
-
It takes 15 kWh (kilowatt hours) of electrical energy to produce 1.0 kg of aluminum metal from aluminum oxide by the HallHeroult process. Compare this value with the amount of energy necessary to...
-
Funds are separate fiscal and accounting entities, each with its own self-balancing set of accounts. The newly established Society for Ethical Teachings maintains two funds-a general fund for...
-
Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $18,000. The carpet is estimated to have a 15-year useful life and no residual value. a....
-
A printing press priced at a fair market value of $275,000 is acquired in a transaction that has commercial substance by trading in a similar press and paying cash for the difference between the...
-
A printing press priced at a fair market value of $275,000 is acquired in a transaction that has commercial substance by trading in a similar press and paying cash for the difference between the...
-
Can you explain why we neglect the gravitational force between most objects unless at least one of them has an enormous mass (Earth, moon, Sun)
-
1C.1 What's the largest gravitational force you can produce between the two masses? (Note: it's convenient to express the forces in this sim in terms of piconewtons-pN. One piconewton is 0.000000 000...
-
1. A car has tires that have an outer diameter of 31 inches. If the wheels are turning with an angular velocity of 12 rad/s, how far in miles will the car travel in 2 hours? Enter your result rounded...
Study smarter with the SolutionInn App