1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tamaranim1 [39]
4 years ago
11

With respect to delaying revenue recognition until completion of a long-term contract, it is the case that: Multiple Choice A) E

stimated losses on the overall contract are recognized before the contract is completed. B) Expenses are recognized each period, but revenue is only recognized when the contract is completed. C) Use of this approach is not permitted under generally accepted accounting principles. D) Neither gains nor losses are recognized until the contract is completed.
Business
1 answer:
hichkok12 [17]4 years ago
8 0
<h2>Estimated losses on the overall contract are recognized before the contract is completed. </h2>

Explanation:

Revenue recognition cannot be done prior to the completion of contract.

But the asset can be created. Only after the contract gets completed the revenue recognition can be realized.

For a long-term project, the revenue can be recognized based on the percentage of completion.

Revenue recognition keeps financial transactions aligned.

Option A: valid

Option B Invalid, because expenses are also recognized

Option C: This process is acceptable.

Option D: Gains and profits are calculated in this type of method

You might be interested in
Approximately what percent of regular army soldiers (excluding army reserves and national guard) currently serve in infantry uni
anyanavicka [17]
Base on the study of finding, the rate of the percent of regular army soldiers currently serving in the infantry units is about twenty percent. The results has showed that their are approximately twenty percent of regular army soldiers who are serving in the infantry units.
4 0
3 years ago
The stage in the evolution of new products in which ideas that match company objectives are analyzed as to whether the firm has
qwelly [4]

Answer:

The question is incomplete, it misses the options. The options are the following:

a) exploration.

b) Product development.

c) Test marketing.

d) Screening.

e) Business analysis

And the correct answer is the option A: Exploration.

Explanation:

To begin with, the stage of <em>"exploration"</em> in the process of developing new products by the companies is the one in where the expertises primarily focus on the devolpment of new ideas that may match with what the company is looking for and therefore that in this part it is quite common to do storm ideas or techniques like that in where the whole group focus on coming together in few options that will pleased the superiors that will later accept or not the idea and will pass the stage to the next one or will have to start thinking about new ideas.

8 0
3 years ago
Which of the statements below is​ TRUE?A.Accounting Identity​ is: Assets equivalentLiabilities minus​Owners' Equity.B.Accounting
jeka57 [31]

Answer:

C.Accounting Identity​ is: Assets equivalentLiabilities​ + Owners' Equity.

Explanation:

In accounting identity all variables must balance, if they do not balance according to the equation then there must be an error in formulation, measurement or calculation.

The basic assumption in accounting identity is that the balance sheet must balance. That is assets must be equal to a sum of liabilities and owner's equity.

Asset= Liabilities+ Owners Equity.

This relationship is based on the convention of double entry, for every debit there is an equal credit.

8 0
3 years ago
3) Two countries, the US and England, produce only one good, wheat. Suppose the price of wheat is $3.25 per pound in the US, and
Tcecarenko [31]

Answer:

$2.4074/pound

Explanation:

The law of one price states that the same good in two different countries must be sold for the same amount of money, which means that the $/pound spot rate must ensure that wheat costs the same on both countries.

Therefore, the spot rate 'r' is:

\pounds 1.35*r=\$ 3.25\\r= \frac{\$ 3.25}{\pounds 1.35}\\r=2.4074 \frac{\$}{\pounds}\\

The spot rate should be $2.4074/pound.

8 0
3 years ago
What is meant by the term target market?
Agata [3.3K]

Answer:

<h3>A target market is the set of consumers that a company plans to sell to or reach with marketing activities. A target audience is the group or segment within that target market that is being served advertisements.</h3>

<h2>hope it helps.</h2><h2>stay safe healthy and happy...</h2>
7 0
3 years ago
Other questions:
  • Global Enterprises has spent $134,000 on research developing a new type of shoe. For this shoe to now be manufactured, the firm
    12·1 answer
  • Financial Statements of a Manufacturing Firm The following events took place for Sorensen Manufacturing Company during January,
    8·1 answer
  • A newspaper story on the effect of higher milk prices on the market for ice cream contained the following: "As a result [of the
    10·1 answer
  • This is actually just out of curiosity...
    6·1 answer
  • Bosio Inc.s perpetual preferred stock sells for $97.50 per share, and it pays an $8.50 annual dividend. If the company were to s
    13·1 answer
  • Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for
    12·1 answer
  • Credit cards and charge cards differ in two important ways. One is the method of payment. What is the other difference? A. You e
    5·2 answers
  • Moe is an average worker stuck on a team of complacent workers. Nick is an innovator who produces triple the amount of the avera
    10·1 answer
  • The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.95 per share on its stock. The dividends are expected to grow at
    6·1 answer
  • Perceptions of a person's adherence to personal and corporate values are mostly determined by the person's Multiple choice quest
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!