Answer: C
Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer.
Explanation:
The term revenue recognition at the point of sale refers to the process of recording revenue from manufacturing and selling activities at the time of sale. The revenue recognition principle states a company can record revenue when two conditions are met. They must be realized or realizable, and earned.
Answer:
Explanation:
Where the culture and the mode of living are completely different, international business is going beyond boundaries.
People of single culture and region are been dealt with in the domestic business, and it is easy to know what the customer needs. Many cultures are been dealt with when it comes to international business, and there is a need for product customization as per the location. This would require a team that manages these issues in each region.
Hence, when compared to domestic business, the business will be in a large mode. Thus, there is a separate course for international business which helps us to reach the heights we require to see the whole world.
Based on the explanation above, the statement given in the question is false.
Answer:
a. SAN
Explanation:
Cloud computing can be defined as a type of computing that requires shared computing resources such as cloud storage (data storage), servers, computer power, and software over the internet rather than local servers and hard drives.
Generally, cloud computing offers individuals and businesses a fast, effective and efficient way of providing services.
iSCSI is simply an acronym for Internet Small Computer Systems Interface and it is typically an internet protocol (IP) with respect to a storage area network (SAN) standard used essentially for connecting data storage facilities over a transmission control protocol and internet protocol (TCP/IP).
A storage area network (SAN) can be defined as a high-speed computer network that is specially designed to avail end users the ability to access consolidated, block-level data storage. Thus, storage area network (SAN) typically connects network servers to data storage.
Hence, Fred is most likely to deploy a storage area network (SAN) in this scenario, to provide storage for the entire private cloud in the data center.
Answer:
D. Debit to COGS for $93,000
Explanation:
The following two journal entries are to be recorded in the accounts on the sale of inventory.
Debit Credit
Revenue $111,000
Accounts receivable $111,000
Cost of Goods sold $93,000
Inventory $93,000
So based on the above discussion, the answer is D. Debit to COGS for $93,000
Answer:
Option d: Selling, general and administrative budget and the pro forma income statement
Explanation:
Budgeting
This is simply defined as the showing forth the plans for a business in financial terms. It is said to be a plan to help you an individual to monitor and manage money wisely ans can it one to achieve short term, intermediate, and long term goals in a timely manner.
The notable arrangements of most master budgets are prepared in is sales, purchases, cash and income statement. Budgeted sales commissions is said to visibly shown on the selling, general and administrative budget and the pro forma income statement.
