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2 years ago

The revenue recognition principle states that companies typically record revenue:_____.

1 answer:

6 0

The revenue recognition principle states that companies typically record <u>revenue in the period in which they provide goods and services to the customers</u>.

The revenue recognition principle approach that agencies' sales are diagnosed while the product or service is taken into consideration and introduced to the customer — now not when the cash is acquired

The revenue recognition precept states that sales should be recognized and recorded while it is realized or realizable and when they are miles earned. In different phrases, groups shouldn't wait till sales are really accrued to document it in their books. revenue needs to be recorded when the business has earned the revenue.

According to usually accepted accounting principles, for a company to document revenue on its books, there needs to be a vital occasion to signal a transaction, including the sale of products, or a contracted mission, and there needs to be a fee for the products or services that matches the said price or agreed-upon fee.

Learn more about revenue recognition here brainly.com/question/26275324

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A business in which the owners have little personal responsibility for the company’s debts and actions is called a

adell [148]

I believe the answer is A.

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3 years ago

What academic requirements should be completed to be a public relations specialist

allochka39001 [22]

Answer: A 4-year bachelor's degree in a PR-related area like journalism, marketing or communications is frequently required for entry-level positions. Many colleges or universities offer specific public relations certificate programs or majors.

Explanation:

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3 years ago

stock sells for $100 rights-on, and the subscription price is $90. Ten rights are required to purchase one share. Tomorrow the s

m_a_m_a [10]

Answer:

$99.09

Explanation:

Calculation for What is Tricki's expected price when it begins trading ex-rights

Using this formula

Expected price=Stock rights-on- [ (Stock rights-on-Subscription price)÷(10 rights+ One share)]

Let plug in the formula

Expected price=$100-[($100-$90)÷(10+1)]

Expected price=$100-($10÷11)

Expected price=$100-$0.91

Expected price=$99.09

Therefore Tricki's expected price when it begins trading ex-rights will be $99.09

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3 years ago

The new employee at Cork Manufacturing reported tp work and the employee reviewed the following information that was audited by

dexar [7]

Answer:

The correct answer is D

Explanation:

In this case, the new employee who reported to work, was given the responsibility to perform the review of the information on the balance sheet which was audited by the CPA.

So, here the role of new employee is described as the manager- financial analysis, who is responsible for the financial health of the organization or business, reviewing the financial data as well.

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3 years ago

Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships.1. The likeliho

Setler [38]

Answer:

1. The likelihood of a payment occurring is probable, and the estimated amount is $1.14 million.

Dr Law suit loss 1,140,000
Cr Law suit liability 1,140,000

2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.94 to $1.14 million.

Dr Law suit loss 940,000
Cr Law suit liability 940,000

US GAAP allows companies to record probable losses at lowest estimated value.

3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.14 million.

no journal entry is required, only a disclosure in the footnotes of the financial statements.

A contingent liability (or loss) that is only possible, but not probable, does not need to be journalized and recorded. It only needs to be disclosed in the footnotes of the financial statements.

4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.14 million.

no journal entry is required

A contingent liability (or loss) that is remote, does not need to be journalized or recorded, nor included in the footnotes of the financial statements.

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4 years ago