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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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During the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000. During the year, accounts rece
guajiro [1.7K]

Answer:

(a1) $761,000

(a2) $504,000

(a3) $793,000

Explanation:

(a-1) Amount of net sales reported as revenue in the income statement:

= Cash sales + Credit sales

= $289,000 + $472,000

= $761,000

(a-2) Amount of cash received from collecting accounts receivable:

= Credit sales + Decrease in accounts receivable

= $472,000 + $32,000

= $504,000

(a-3) Amount of cash received from customers:

= Cash sales + Amount of cash received from collecting accounts receivable

= $289,000 +  $504,000

= $793,000

6 0
2 years ago
Senator Bright, who understands economic principles, is trying to convince workers in her district that trade with other countri
tankabanditka [31]

Answer:

b) because it allows specialization, which increases total output

Explanation:

Specialization is when a nation or individual concentrates its productive efforts on producing a limited variety of goods. It oftentimes has to forgo producing other goods and relies on obtaining those other goods through trade.

5 0
3 years ago
It is not possible for abandonment options to decrease a project's risk as measured by the project's coefficient of variation.
Tatiana [17]

This is false abandonment options should decrease a project's risk.

4 0
2 years ago
a. Suppose that banks have decided they need to keep a reserve ratio of 10%—this guarantees that they’ll have enough cash in ATM
d1i1m1o1n [39]

Answer:

A. The money multiplier is the amount of money supply with each dollar increase in reserves. so, it is correct.

b.-  Since there is an inverse relationship between the reserve ratio and the money multiplier, a higher reserve ratio leads to a lower money multiplier.  So increase the ratio and lower the money.

7 0
3 years ago
Joseph shops for sugar at the grocery store. There are two types of sugar to choose from: a two-pound bag and a five-pound bag.
ira [324]

Answer:

$4

Explanation:

Let T = number of two pound sugar bags

and F = number of five pound sugar bags

6T + 3F = 24

3T + 1F = 10

F = 10 - 3T

replace in first equation

6T + [3 x (10 - 3T)] = 24

6T + 30 - 9T = 24

6 = 3T

T = $2

F = 10 - (3 X $2) = $10 - $6 = $4

6 0
2 years ago
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