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Anastaziya [24]
3 years ago
12

An entity entered into a contract to construct a building. Based on the contract’s terms, the entity appropriately determined th

at the performance obligation in the contract will be satisfied over time. At an early stage of the contract, the entity cannot reasonably measure the outcome of the contract, but it expects to recover the costs incurred in the construction of the building. The revenue from the contract should be recognized __________.
Business
1 answer:
Jet001 [13]3 years ago
8 0

Answer:

It should be recognized to the extent of cost implication

Explanation:

Contract is simply an agreement reached between two or more parties which must be strictly adhered to. If the entity above recognizes above the extent of cost implication, it would a violation or breach of contract. So, the revenue must be recognized to the extent at which cost was incurred.

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Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,400 on January 15, 2017. On December 31, 2019, she sold all 1,000
Setler [38]
Her loss is her loss
3 0
3 years ago
Which of the following statements about the role of institutions in economic growth is TRUE and which of the following statement
ki77a [65]

Answer:

Explanation:

(a) Expropriation has Truly been a major concern for the Government through out the globe, as the when an entity or body which is supposed to work for the good of the poor people by making use of the Government property starts dealing in illegal ways to grab it as private or work on other properties which are private in nature,

b) The European invasion of the many countries across the globe had initially been to gain ,more and more wealth and power through business.

However, it is true that the quality of the institutions colonized by the Europeans is related to whether the climate or the diseases in the colonized regime allowed the European settlers to live in those areas.

(c) It is true that the low quality institutions make it difficult to protect property rights and enforce contracts. The rights of the people are all dependent on how the State allows the people to enjoy them.  

(d) It is true that the low-quality institutions are central to the theory of poverty traps that states that countries need a big push to felicitate convergence in living standards to the developed world.

 

8 0
3 years ago
Vertical disintegration occurs when a company: a. uses its capital resources to purchase its competitor. b. takes advantage of a
Marizza181 [45]

Answer:

b. takes advantage of another company it does business with after the other company has made a substantial investment in assets to meet the needs of the company.

Explanation:

Vertical disintegration occurs when a company takes advantage of another company it does business with after the other company has made a substantial investment in assets to meet the needs of the company.

A common or popular example of vertical disintegration is Hollywood because it comprises of specialized business firms that are saddled with the responsibility of performing specific tasks or services such as creating movie trailers, posters, editing, sound effects, special effects, lighting, etc.

Generally, vertical disintegration help business firms or organizations to share risk associated with doing business among themselves.

5 0
3 years ago
(Evaluating profitability​) Last​ year, Stevens Inc. had sales of ​$397,000​, with a cost of goods sold of ​$115,000. The​ firm'
amm1812

Answer:

(A) Income statemnt for year ended 2XX9

sales                          397,000

COGS                        (115,000)

gross profit                282,000

operating expenses (125,000)

income before taxes 157,000

income tax expense (53,380)  <em>34% of 157,000</em>

Net Income               103,620

(B) Profit Margin 26.10%

(C) non-sufficent information

Explanation:

(A)

the dividends and retained earnings are not part of the income statment.

(B)

profit margin:

net income / sales = 103,620/397,000 = 0.261007556 = 26.10%

(C) non-sufficent information

8 0
3 years ago
what type of communication style is usually appropriate for evaluation or counseling interviews with employees?
Nutka1998 [239]

Answer:

formal and respectful

Explanation:

you'd want to sound respectful and formal

7 0
3 years ago
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