The revenue recognition principle dictates that revenue be recognized in the accounting period in which <u>the performance obligation is satisfied.</u>
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The revenue recognition principle is a feature of accrual accounting which requires that revenues are recognized on the income statement, in that time period when they are earned and realized, not necessarily when the cash is received.
The principle is important because it enables a business to show profit and loss accurately, since the revenue is recorded when it is earned, not when it is received. Usage of this principle also helps with financial projections, which allows the businesses to project future ventures more accurately.
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Answer:
0.965 hour
Explanation:
1 frame of video = 480×320 pixels = 480×320×2 bytes = 307,200 bytes
In 1 sec (1/3600 hour) 30 frames of video are displayed which will occupy 30×307,200 bytes = 9,216,000 bytes
Number of hours of video that will fit in a 32 gigabyte (32×10^9 byte) memory = (32×10^9)/(9,216,000×3600) = 0.965 hour
Option 4: Sales Tax
A sales tax is a form of a flat tax, it levies the same income rate on all taxpayers.
The answer is B. Industrialization meant that countries could produce more weapons
