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sashaice [31]
3 years ago
14

Revenue is recognized in the accounting period in which the performance obligation is satisfied. This statement describes thea)

consistency characteristic.b) expense recognition principle.c) revenue recognition principle.d)relevance characteristic.
Business
1 answer:
melomori [17]3 years ago
6 0

Answer:

This statement describes. c) revenue recognition

Explanation:

The revenue recognition principle states that one should only record revenue when it has been earned, not when the related cash is collected.

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As a result of Luis putting a "stop payment" on a check that he wrote, Luis will
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In a push based system of distribution which relies on selling to customers through a sales force and retail partners, managers
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Answer:

a) channel members.

Explanation:

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6 0
2 years ago
Courts Distributors needed two hundred compact refrigerators on a rush basis. It contacted Eastinghouse Corporation, a manufactu
Romashka [77]

Answer:

Courts Distributors and Eastinghouse Corporation

Dispute over Contract Price

The two parties have a legal contract.  The contract was established when Courts requested Eastinghouse to send the refrigerators and bill later.

The exact price for the contract is in dispute.  This dispute can be resolved between the parties.  Reference to the market price will help resolve the dispute, otherwise, the parties may seek alternative dispute resolutions, like litigation, mediation, or arbitration.

Explanation:

a) Data and Analysis:

Eastinghouse's invoice price for the refrigerators = $140,000

Courts' adopted market price = $120,000

b) Since Courts' reference to the price is with regard to the wholesale market price, it may be that Eastinghouse quoted the retail price instead.  Since Courts is a distributor, it has the right to be charged a wholesaler's price and not a retailer's.  Therefore, we can conclude that after due reference to the prevailing market price of similar refrigerators, the two parties may agree to a price of $120,000 or a little higher.

7 0
2 years ago
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