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gladu [14]
1 year ago
11

In accrual basis accounting, revenue is recorded when the seller ______.

Business
1 answer:
Softa [21]1 year ago
6 0

in accrual basis accounting, revenue is recorded when the seller's product is shipped or service is provided.

Revenue is the money made from regular business operations and is calculated by multiplying the average sales price by the quantity of units sold. In order to calculate net income, costs must be deducted from the top line (or gross income) figure. On the income statement, revenue is also known as sales.

Even though the cash for the transaction has not yet been exchanged, accruals are earnings or expenses that have an influence on a company's net income on the income statement. Due to the non-cash assets and liabilities they involve, accruals also have an impact on the balance sheet.

To know more about Accrual-based accounting CLICK HERE:

brainly.com/question/13464862

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6. Which of the following could cause a change in the demand curve?
Nikitich [7]

Answer:

I think that there will be change in the population consuming the good because the goods are sold according to population who consumes it.The goods are sold according to the people .If there will be a lot of population consuming the good then the business can grow rapidly . But if there will be less population then people cant sold much goods.

7 0
2 years ago
S buys a $50,000 whole life policy with a 50,000 accidental death and dismemberment rider. S dies 1 year later of natural causes
Nonamiya [84]

Answer:

Insurer pay the beneficiary = $50,000

Explanation:

Data provided in the question:

Amount of the policy bought by the S = $50,000

Accidental death cover = 50,000

Now,

When the S dies the insurer will pay the beneficiary the total amount for which is covered under the accidental cover i.e equal to the amount 50,000

hence,

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3 0
3 years ago
Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are
ludmilkaskok [199]

Answer:

The units started and completed is 59,900 tons

Explanation:

The computation of the number of tons started and completed during October is shown below:

Units Completed = Beginning Work in Process Units Completed + Units started and Completed

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So, the units started and completed is

= 74,900 tons - 15,000 tons

= 59,900 tons

Hence, the units started and completed is 59,900 tons

4 0
2 years ago
Production possibilities: 1) the study of how best to allocate scarce resources among competing uses. 2) shows the relationship
Ymorist [56]
The alternative combination of final goods and services that could be produced in a given time period with all available resources and technology. in short the production possibility frontier shows the maximum output possibilities for two given goods. It makes the assumption that all inputs are utilized efficiently.
5 0
2 years ago
Kraft, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2018:
brilliants [131]

Answer:

c) $465,000

Explanation:

The amount of pension expense reported for 2018 can be calculated using only the relevant data in the question as follows:

Pension expenses = Service cost + (Beginning of year Projected benefit obligation × 10%) - (Beginning of year fair value of plan assets × 10%)

Therefore, we have:

Pension expenses = $ 345,000 + ($3,600,000 × 10%) - ($2,400,000 × 10%) =  $465,000

Therefore, the amount of pension expense reported for 2018 is $465,000.

6 0
3 years ago
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