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vredina [299]
3 years ago
8

A customer purchased a drill press on November 14 on account from Sears. The drill press was delivered two weeks later. The cust

omer paid for the drill press on December 5. When should Sears record the revenue for this transaction according to the revenue recognition principle? Novemeber decemeber August march
Business
1 answer:
kkurt [141]3 years ago
7 0

Answer:

November

Explanation:

The principle of revenue recognition applies when the income is realized or earned whether cash is collected or not and it also meets the accounting accrual basis. Realizable herein means that the client gets the product but the payment is made afterward.

In the given case, the customer purchase a drill press from Sears so the same month i.e on November, it is to be reported according to the revenue recognition

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A union contract is:
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Answer: A union contract is <u>an agreement between management and labor </u>that loosely states the rules they will each try to abide by in the workplace.

Explanation: The unions can <em>participate in the management</em> of the companies  and in the promotion of collective work.

They can for example ,<em>improve the members conditions </em>and income by promoting social welfare , <em>active the participation in the development </em>of companies and <em>build trust </em>and transparency in the relations of the company or employer.

Some of the features could be :

  • Formal.
  • The fact that subsists by itself, without the need for another convention.
  • It is governed by the norms and principles of collective labor law.
  • It has administrative autonomy.

For each contract t<u>he union must make a regulation</u> in the specific case. They must make a procedure for the appointment of the <em>coordinator</em> , the <em>compensation</em> that each participating member will receive for the collaboration ,s<em>ocial security </em>of participating affiliates and <em>minimum union membership time</em> the participant must have to participate .

8 0
4 years ago
A test that has _____ validity exposes the job applicant to situations that are likely to occur on the job, then tests whether t
Artist 52 [7]

Answer:

Content.

Explanation:

Validity describes how precisely well a particular method estimates what is intended to be measured.

Content validity describes the extent to which things which are relevant and essential to the content described is estimated.

Content validity describes how efficiently well a a test is measuring a particular skill that is associated with the job, it measures the abilities and capabilities that are needed to carry out a particular job excellently well.

A lot of organizations carry out employment testing inorder to make the right choices when hiring employees.

3 0
3 years ago
Which must be considered when beginning a new photoshop project.
gizmo_the_mogwai [7]

you need ideas and concepts

8 0
3 years ago
T. Dole invests cash and land into an existing partnership. The cash invested is $30,000 and the land has a fair market value of
bekas [8.4K]

The journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $90,000.

<h3>What journal entries?</h3>
  • A journal entry is an act of keeping or producing records of any economic or non-economic transaction.
  • An accounting journal, which shows a company's debit and credit balances, records transactions.
  • The journal entry can be made up of multiple records, each of which is either a debit or a credit.
  • Otherwise, the journal entry is termed unbalanced if the sum of the debits does not equal the total of the credits.

So, the journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of cash invested, and the fair market value.

30,000 + 60,000 = $90,000

Therefore, the journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $90,000.

Know more about journal entries here:

brainly.com/question/14279491

#SPJ4

The complete question:

T. Dole invests cash and land into an existing partnership. The cash invested is $30,000 and the land has a fair market value of $60,000. The journal entry to reflect this transaction would include a credit to T. Dole, Capital in the amount of $ ______.

7 0
1 year ago
In regard to firm growth, evidence shows that ________. service firms tend to generate sustained growth while manufacturing firm
Yuliya22 [10]

Answer:

At least during the last couple of decades, service firms tend to generate sustained growth while manufacturing firms do not.

Explanation:

The last president that recorded a steady manufacturing growth rate was Bill Clinton.

Service firms are growing steadily and probably will continue to do it. While manufacturing firms have been slowing down, their growth rate (if any) is not very large during the past few years and that tendency has increased with the new trade barriers imposed by our government during the last couple of years.

Another thing that helps the growth of service firms is that when manufacturing firms or agricultural firms grow, they need more services, so service firms will grow even more.

7 0
4 years ago
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