Question: please solve it step by step clearly the exercise 3 & bonus & do table if it need. thankyou Exercise 3 - MCQ (20

please solve it step by step clearly the exercise 3 & bonus

please solve it step by step clearly the exercise 3 & bonus & do table if it need. thankyou Exercise 3 - MCQ (20 points, 10 points each) 1. To address inconsistencies and weaknesses in revenue recognition, a comprehensive. revenue recognition standard was developed entitled the a. Revenue Recognition Principle. b. Principle-based Revenue Accounting. c. Rules-based Revenue Accounting. d. Revenue from Contracts with Customers. 2. On January 15, 2018, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of 75,000 30 days after delivery. The revenue for this contract should be a. recorded on January 15, 2018. b. recorded on March 1, 2018. c. recorded on March 31, 2018. d. recorded on April 30, 2018.

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