The one that fits here is liability. All the debts owed by a business are called liabilities. We can say that is a normal debt or obligations that arise during the course of its business operations. These ones are settled <span>over time through the transfer of economic benefits including money, goods or services.</span>
Answer:
Revenue recognized in Dec= $3200
Explanation:
Lets first understand the criteria for revenue recognition. According to the accruals concept of accounting, an entity is supposed to record revenues and expenses as soon as they are earned and incurred. An entity shouldn't wait until the revenue is received and expenses are actually paid. The accruals concept of accounting is also based on the matching principle which requires entities to match and record expenses with the revenue of the period in which they occur. Considering the two concepts mentioned above, we may classify these transactions for revenue recognition as follows;
a. Receipt of $1200 cash:
In this case Lobos Inc. has received the cash in advance and the services against this payment will be rendered next month, therefore, this transaction doesn't imply an earned revenue rather it's a liability for Lobos Inc until the services are actually rendered. No revenue is recognized in December.
b. Perform $900 of services:
Lobos Inc. will provide services to this customer and will receive payment in next month, however the services have been provided which implies Lobos Inc has earned the revenue, though not received it yet but still following the accruals concept, Revenue is recognized in December.
c. Perform $2300 of services:
Similarly, Lobos Inc. will render services and will receive the payment against these services in the month of Dec, therefore, Lobos Inc can recognize revenue in December.
So juices don’t drip on other food and cause cross-contamination
Answer:
a. an effective use of lean media.
Explanation:
Since in the question it is mentioned that the representative commuicates regularly with regard to the no and type of health & safety incident arrise in their plant also at the same time they note the type & number of infractions so that these types of incidents should be known to the other representatives as well due to this the chances of any happening would be minimized
So this represent the use of lean media
Answer:
Correct Answer:
C) only $25,000.
Explanation:
In the case between Blackacre and Paris over the piece of land, the value recoverable will be the difference between the original value of the land the the newest value of the land when the breach of contract occurs. <em>Hence, the only amount recoverable by Paris would be $25, 000.</em>
