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andriy [413]
2 years ago
5

In general, revenue is recognized when the earnings process is virtually complete and?

Business
1 answer:
djyliett [7]2 years ago
3 0

In general, revenue is recognized when the earnings process is virtually complete and an exchange has taken place.

In accounting, turnover is the gross income generated from the sale of goods and services related to the company's primary activities. Commercial income is also called sales or earnings. Some companies derive their income from interest, royalties, or other fees.

The basic definition of revenue is the total amount of money earned from a company's business measured over a specified period of time. A company's turnover is its gross income before deducting expenses. Profit and total revenue define turnover. This is the monetary profit from the sale and/or services rendered.

Learn more about revenue brainly.com/question/25623677

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Under a $150,000 insurance policy on her deceased father's life, May Green is to receive $12,000 per year for 15 years. Of the $
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Answer:

$0

Explanation:

As we know that the life insurance proceeds would be recieved by the beneficary on the insured person death is tax free

Since the amount of $12,000 would be received by May Green on her insured father so this amount would be tax free

Therefore the amount that subjected to income tax is $0

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3 years ago
He ________ helps design programs and systems to find new sources of knowledge or to make better use of existing knowledge in or
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4 years ago
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an
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Answer:

-3.41%

Explanation:

The computation of the annual rate of return is shown below;

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($10,710,500 ÷ $12,738,500)^(1 ÷ 5) = (1 + rate of interest)

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3 0
3 years ago
_____ benefit(s) from large economies of scale, in which the costs of goods decrease as output increases. natural monopolies per
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Answer:

separates costs into fixed and variable component

can assist with management decision making

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This report of income is not used for external reporting purposes but rather for internal decision making by the management.

Therefore according to the above description, the last two statements are correct.

6 0
3 years ago
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