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Rzqust [24]
3 years ago
13

Air France collected cash on February 4 from the sale of a ticket to a customer on January 26. The flight took place on April 5.

According to the revenue recognition principle, in which month should Air France have recognized this revenue?
Business
1 answer:
expeople1 [14]3 years ago
7 0

Answer:

Air France should have recognized the Revenue in month of  APRIL.

Explanation:

According to the revenue recognition concept the revenue should be recognized when it is realizable. When goods or services are tranferred or rendered to the customer. It doesn't matter matter when the payment is received. Payment received in advance should be recorded as unearned revenue rather as revenue. On the other hand payment doesn't received until the transfer of goods or services, a receivable will be made in result of revenue recognition entry. Air France should recognize the revenue on April 5, when the flight took placed and services are performed. Sale of ticked on January 26 will be recorded as unearned revenue and a receivable on the other hand. The receivable will be adjusted on February 4 when cash is received and the revenue will be recognized on April 5 when flight took place.

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Darina [25.2K]

Answer:

b. businesses to destroy customer data and maintain reasonable security procedures to guard against theft.

Explanation:

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This ultimately implies that, a data dictionary found in a computer database system typically contains the records about all the data elements (objects) such as data relationships with other elements, ownership, type, size, primary keys etc. This records are stored and communicated to other data when required or needed.

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4 0
3 years ago
12. Describe an alternative investment that you might invest in someday, and explain why this investment is appealing to you
Ivenika [448]
I would invest in building my own house. This is appealing to me because I want  to raise a family in a nice house that I have built. 
4 0
3 years ago
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Phantasy [73]

Answer:

Step     Activities

1           Determine how expensive a car you can afford.

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3.         Negotiate the lowest price by getting bids from at least three dealers and hold firm to your target price when selecting the source of your car.

4.        Change the oil, rotate the tires, and replace the windshield wipers as needed.

Explanation:

The steps above are arranged to ensure that the next step follows from the last sequentially.  The sequence started with making purchase decisions to maintenance activities after the purchase of a car had been completed successfully.

3 0
3 years ago
Potter Corporation has gained considerable market share in recent years for its​ specialty, low-volume, complex line of​ product
Oksana_A [137]

Answer:

Potter Corporation should turn to activity-based costing.

Explanation:

Potter Corporation should change to activity-based costing. Since Its present system seems to be deforming product costs, resulting in prices of specialty products that are below average and prices of simple products that are too high. This may lead Potter to push products that produce low profit margins.

7 0
3 years ago
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Which of the following product costing methods produces the most precise product costing information? Select one: A. Organizatio
Doss [256]

Answer:

The correct answer is letter "B": Activity-based costing.

Explanation:

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8 0
3 years ago
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