1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VARVARA [1.3K]
1 year ago
7

If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sa

les revenue, how will this error affect net income for the current period?.
Business
1 answer:
Helen [10]1 year ago
8 0

There will be inadequate liabilities.

What Does Sales Revenue Mean?

Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. One part of sales revenue may be paid in cash, and the other part may be paid on credit using methods like accounts receivable.

Either the gross revenue total or the net revenue amount can be used to represent sales revenue on the income statement. All deductions for product returns, the potential for undelivered items, and the cost of bad debt are all included in net revenue.

to know more about sales revenue

brainly.com/question/16232387

#SPJ4

You might be interested in
A long term investment usually means an investment period of one to three months?
GarryVolchara [31]

Answer:

False

Explanation:

7 0
3 years ago
Read 2 more answers
Which of the following is a good marketing tactic for reaching out to cold prospects?
timama [110]

Answer:

A good marketing tactic for reaching cold prospects is Advertising

Explanation:

A cold prospect is a qualified potential customer that has little or no knowledge about your goods and service or about your company. to make them know about you can reach them through target advertising because you don't have their personal contacts yet to do them a personalized email or calls.

5 0
3 years ago
Read 2 more answers
Of the following fuels used on a large scale in the last century to supply energy, which began to be utilized most recently?
andrew11 [14]
Coal is the fuel that is being used on a large scale in the last century to supply energy, which began to be utilized most recently.
Before coal are used to run a train and steam engines. Coal are used to cook foods and there are other things.<span />
5 0
3 years ago
As the video showed, there are many people who are so concerned about the viability of banks, and indeed the entire financial sy
sergeinik [125]
Hard question thx for the points give me brainlest points plz
6 0
3 years ago
Describes how a monopoly controls an industry
stira [4]

Answer:

Key ideas:

  • A single entity controls the flow of the product.
  • Possesses the power to limit prices.
  • Will have some influence in politics.
  • Difficult for new companies to enter the market.

Explanation:

Monopoly refers to the state when there is only one company controlling the flow of products, therefore controlling the prices of it. There are a lot of examples of monopoly in the contemporary era such as AB Inbev, but it doesn't mean that it is totally a modern concept. Monopoly existed even in history take for example the case of Carnegie steel mills or the issue of railroads.

When one company possess such power that it can control the price, it can badly damages the interest of other investors and consumers. But the reason they create a monopoly is that they have heavy influence in politics. That is how they turn up the decisions to their own benefits. And monopolies always try to create hurdles for new investors to get in the market. Because they are charging whatever they want due to no competition, as soon as new competition arrive it will challenge the monopoly which it can't take.

3 0
3 years ago
Other questions:
  • What role does math play in the insurance industry?
    14·1 answer
  • Which of the following is responsible for decision making regarding the purchase and sale of bonds by the fed?
    11·1 answer
  • Presented below are selected account balances for Homer Winslow Co as of December 31, 2014.
    6·1 answer
  • If your income is ​$5353 a​ month, the price of pizza is​ $5 and the price of a video is​ $4, how many pizzas will you buy and h
    11·1 answer
  • ECNAL Corp. manufactures bicycle parts. One of its new products, the Slipstream tire, is advertised to be 20 percent stronger th
    12·1 answer
  • Which of the following items are liabilities of Siebers Jewelry Stores? Indicate by Yes/No.
    10·2 answers
  • What is the best car in the market? How much is it?
    7·1 answer
  • What is the technique used to help groups generate multiple ideas and alternatives for solving problems
    12·1 answer
  • During the current year, assets increased from $11,000 to $19,000, and liabilities decreased from $9,000 to $7,500. If no additi
    10·1 answer
  • ____________ is the study of how individuals, institutions, governments, and businesses acquire, spend, and manage money and oth
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!