Answer:
C. the payoffs are dependent upon another variable, such as revenue or profit.
Explanation:
Contingent contracts are one of the types of contracts in which the promisor offers the responsibility only when the distinct conditions are satisfied. It works on the occurrence or non-occurance of the specific event. It relies on the happening of an unpredictable event. The contingent contract becomes void in the case when the happening of the event grows impossible.
Answer and Explanation:
The journal entries are shown below:
On Jan 1
Cash $14,000
To Capital owner $14,000
(being cash received)
On Jan 2
Cash $9,500
To Account service revenue $9,500
(being cash received)
On Jan 3
Account receivable $4,200
To Service revenue $4,200
(being service provided on account)
On Jan 4
Advertising expense $700
To Cash $700
(being cash paid is recorded)
On Jan 5
Cash $2,500
To Account receivable $2,500
(being cash received)
On Jan 6
Owner drawings $1,010
To cash $1,010
(being cash paid is recorded)
On jan7
Telephone expense $900
To Account payable $900
(Being telephone bill received)
On Jan 8
Account payable $900
To cash
(being cash paid is recorded)
Answer:
A web streaming company fulfills a 12-month service term paid by customers in advance.
Explanation:
Revenue is recognized from services rendered or goods delivered. It is recognized only when the risk and reward is transferred, further it relates to the normal business of company.
As in the first sentence the company makes scientific devices and it sales an agricultural land, that is sale of fixed asset.
In second case the pharmaceutical company receives donation which is anonymous.
All the things are not revenue for company.
It is only the web streaming company which shall recognize revenue as the services are rendered and revenue shall be recognized related to normal business of company.
Face to face channel is a concept in sociology, linguistic, media and communication studies describing social interaction carried out without any mediating technology. The is what the word means
<span>What condition is necessary for a fiat money system to work? The government must control the money supply. Fiat money is not physical money like bills or coins, fiat money solely exists because if supply and demand of a good or service. This is a currency that the government has declared legal but it is not backed by any physical commodity. Due to that, the government has to be in control of the money supply for the fiat system to work. </span>
