The revenue recognition principle requires a. time to be divided into annual periods to measure revenue properly.

Question:

The revenue recognition principle requires

a. time to be divided into annual periods to measure revenue properly.

b. revenue to be recorded only after the business has satisfied its performance obligation.

c. expenses to be matched with revenue of the period.

d. revenue to be recorded only after the cash is received.

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

Step by Step Answer:

Related Book For answer-question

Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

See More Books

Question Posted: Feb 02, 2024 05:00 AM

See More Questions

Since Ryanair DAC's2 emergence as an upstart challenger to the Aer Lingus Ltd.-British Airways plc duopoly in the late 1980s, it had been both a consumer champion and antagonist; a technological...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Mastery Problem The Adjusting Process Unadjusted Financial Statements These financial statements were prepared from the unadjusted trial balance Cole Designs Inc Income Statement For the Year Ended...
Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations: Materials purchased on...
How does the parameter Ma* differ from the Mach number Ma?
Compare the Target (TGT) results in MBA 4-5 with those of Walmart (WMT) shown in the chapter illustration on pages 169170. Comment on the differences. Data from MBA 4-5 Target Corp. (TGT) operates...
If you were trying to examine this issue, how would you proceed? Any suggestions for me to take next steps? same. Is that what happened? You normally wouldnt borrow money from the company, would you?
Near the end of 2011, the management of Simid Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2011. To prepare a master budget for January,...
Define the relational model? What does the relational model consist of? What are the 4 relational models?Discuss
Adjusting the accounts is the process of a. subtracting expenses from revenues to measure net income. b. recording transactions as they occur during the period. c. updating the accounts at the end of...
Get Fit Now gains a client who prepays $540 for a package of six physical training sessions. Get Fit Now collects the $540 in advance and will provide the training later. After four training...
Explain the similarities and differences between the hypergeometric probability distribution and the binomial probability distribution.
If a company wishes to make a change in accounting principle in an interim period, but is not able to determine the effects of the change on the current fiscal year's previous interim periods, the...
How long is the etchant material applied to the tooth being prepared for use of a bonding material? Group of answer choices 5 to 10 seconds 15 to 20 seconds 1 minute It is left on the tooth and is...
Vehicle operating costs incurred for the month totaled $7,840. Total miles drive were 22,400, distributed as follows: Construction by Work Orders $11,200 Retirement by Work Orders $1,120 Operation of...
Under IFRS, long-term investments in bonds must ANSWER Unselected use the effective interest rate method. Unselected use either the straight-line or the effective-interest rate method. Unselected use...
An effective progress note records specific types of information and excludes other types of information. Select the correct types of information that should be included in an effective progress...
Visit www.ezface.com or www.ray-ban.com/usa/science/ virtual-mirror and use the virtual mirror to try on makeup or sunglasses. Does this technology help you select an appropriate product for your...
Do public and private companies follow the same set of accounting rules? Explain.
How far should the marketing concept go? How should we decide this issue?
Should marketing managers, or business managers in general, refrain from producing profitable products that some target customers want but that may not be in their long-run best interest? Should...
Should a marketing manager or a business refuse to produce an energy-gobbling appliance that some consumers are demanding? Should a firm install an expensive safety device that will increase costs...
The acrylic plastic rod is 400 mm long and 20 mm in diameter. If an axial load of 500 N is applied to it, determine the change in its length and the change in its diameter. Ep = 1.85 GPa, vp = 0.45.
A corporation acquired a copyright by issuing 1,000 shares of $5 par common stock. At the time of the exchange, the stock was selling for $40 per share. The copyright had a carrying value of $18,000...
- Water flows at 0.410 mL/s through a horizontal tube that is 70.0 cm long and has an inside diameter of 1.50 mm. Assuming laminar flow, determine the pressure difference Ap required to drive this...

The revenue recognition principle requires a. time to be divided into annual periods to measure revenue properly.

Question:

Step by Step Answer:

Horngrens Financial And Managerial Accounting The Managerial Chapters

Students also viewed these Business questions