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goblinko [34]
3 years ago
13

When does the all-events test under the accrual method require the recognition of income from the sale of goods?A. when the titl

e of the goods passes to the buyer.B. when the business receives payment.C. when payment is due from the buyer.D. the earliest of the above three dates.E. None of these.
Business
1 answer:
Alekssandra [29.7K]3 years ago
4 0

Answer: the correct answer is B, when the business receives the payment.

Explanation:

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Bramble Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory $112,000 $133,000 Accounts paya
melisa1 [442]

Answer:

$604,000

Explanation:

Given that,

                                  Opening            Closing

Inventory                   $112,000           $133,000

Accounts payable     $55,000           $64,000

Cost of goods sold = $592,000

Cost of goods sold = Opening stock + Purchases - Closing stock

Purchases = Cost of goods sold - Opening stock + Closing stock

                  = $592,000 - $112,000 + $133,000

                  = $613,000

Bramble’s 2017 cash payments to suppliers:

= Opening accounts payable + Purchases - Closing accounts payable

= $55,000 + $613,000 - $64,000

= $604,000

8 0
3 years ago
Anne is a full-time student at UCLA buts works part-time as a waitress at a diner near her dormitory. She earns an hourly wage b
miss Akunina [59]

Answer:

In California, if the tip is included in the service charge, Anne's employer must pay taxes for them. The employer is required to pay for these taxes in California, not the employee. Even though tips are not part of an employee's wage, they are still taxable. This means that Anne must include the $51 in her AGI.

5 0
3 years ago
There are three
Lana71 [14]

The correct alternative is letter C. Inflation control. This is the first strategy to control the currency in the economy, being one of the main objectives of monetary policy in a country.

<h3 /><h3>What is monetary policy?</h3>

It is the set of governmental strategies and actions to interfere in the investment market and in the consumption power of citizens, through the control of the basic interest rate of the economy, which is an instrument capable of influencing the value of a currency and the prices of goods. consumption, thus generating a control over inflation in search of economic balance in a country.

Therefore, controlling inflation is a short-term measure that generates a series of impacts on an economy, such as fiscal and monetary contraction measures, such as increasing taxes and reducing public spending.

Find out more about monetary police here:

brainly.com/question/13926715

#SPJ1

8 0
2 years ago
In the exact moment you run out of laundry detergent and realize you need to pick some up at the store, you are in the ________
shutvik [7]
In the exact moment you run out of laundry detergent and realize you need to pick some up at the store, you are in the problem recognition stage of the buying decision process. The problem recognition stage is realizing you have to make the purchase versus deciding to make the purchase of something. 
3 0
3 years ago
A lack of the resources needed to go into producing goods and services is called what
kotykmax [81]
Goods service resources
8 0
3 years ago
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