The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.
A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.
In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.
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Indicators that the local currency is also the functional currency include all of the following except the parent typically provides the financing or provides a guarantee.
A functional currency is one that is utilized in the main economic setting in which a company conducts business. This is the setting in which an entity generates and spends money most frequently. When defining the functional currency of an entity, the following key considerations should be taken into account:
The principal currency influencing retail prices (usually the currency in which prices are denominated and settled).
The money of the nation whose laws and competition have the biggest impact on retail pricing.
The principal currency affecting labor expenses and other costs of goods sold (usually the currency in which prices are denominated and settled).
The currency in which an entity keeps its operating receipts and the currency in which debt and equity instruments are issued are less important deciding factors.
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Debt management ratios measure how well a company is using debt versus equity position.
I think that the answer is A but i have no clue i’m so sorry :(
Answer:
Journal entries to record the 2023 amortization expense for intangible assets.
Date Accounts Titles and Explanation Debit Credit
Dec 31 Amortization Expense—Patents $14,180
($71,800*1/10 + $45,000 * 1/9
+ $40,000*1/10*6/12)
Patents $14,180
(To record amortization of patents)
Dec 31 Amortization Expense - Copyrights $6,335
($50,500*1/10 + $257,000*1/50*3/12)
Copyright $6,335
(To record amortization of copyrights)
