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grigory [225]
3 years ago
12

A recently issued FASB standard requires that companies recognize revenue when goods or services are_____to customers for the am

ount the company expects to be entitled to receive in exchange for those goods or services.
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
6 0

Answer:

Transferred.

Explanation:

FASB is an acronym for Financial Accounting Standards Board. The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors. It was founded in 1972 but began operations fully on the 1st of July, 1973 by replacing the Accounting Principles Board (APB) and American Institute of Certified Public Accountants (AICPA).

A recently issued FASB standard known as the core revenue recognition principle, requires that companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.

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An associate professor of physics gets a $200 a month raise. She figures that with her new monthly salary she can buy more goods
azamat

Answer:

The correct answer is a. Her real and nominal salary have risen.

Explanation:

The term nominal salary refers to the salary literally expressed in money; It is the sum of money paid to the worker for the work done during the stipulated day. When referring to the nominal salary we cannot give ourselves a general idea about the level or real value of the salary. The true value of this salary depends entirely on the level of the prices that correspond to the objects of personal consumption, also on the value of the services that are required, as well as the volume of taxes, among other common expenses.

For its part, the real salary refers to the salary expressed with respect to livelihoods and services available to the worker with his salary; Indicates the amount of consumer items that the worker is able to acquire, as well as services that a worker can buy with his nominal salary (which is handled in the monetary amount that the worker receives)

7 0
3 years ago
West Side Medical Supply is in trouble. In the past two years, Fred Schultz, the owner, suddenly lost 26 percent of his business
Alexus [3.1K]
Fred Schultz, the owner of the West Medical Supply had lost 26 percent of his business. The cause of the lost was because of the two drug stores and close local hospital. In order for Fred to redeem his lost and to gain more, he needs to do some research on demographic changes. By this, he may be able to determine the population and to figure out where and how he can go through with his business.
Answer: D
7 0
3 years ago
Describe at least four factors that affect the demand for a particular commodity.
MrMuchimi

Answer with Explanation:

There are so many factors affecting the demand for a particular commodity. Four of these are: the price of the complements, the income of buyers, changes in trend and advertisements.

1. The price of the complements - Some commodities are complementary with each other, just like cars and gas. If the <em>price of cars decreases</em>, then many people will purchase their own cars, which also follows that <em>the demand for gas will increase.</em>

2. The income of buyers - If the income of a person increases, then he will most likely purchase a particular commodity because he can afford it and has an extra money to purchase goods.

3. Changes in trend - Many people purchase goods because they're on trend. For example, if flare pants are fashionable this year, then the demand for it will increase. Once they're no longer on trend, the demand will drop.

4. Advertisements - The more advertisements a company spends on, the more likely buyers will purchase a specific commodity.

5 0
3 years ago
Like other limited liability companies, for federal jurisdictional purposes, Rodeo Productions LLC is most likely a citizen of
Shtirlitz [24]

There are different kinds of company that exist.

This is most likely a citizen of every state of which its members are citizens.

  • Limited liability company is often set up as a form of legal protection for shareholders and owners that hinders people from being held personally responsible for their company's debts or financial losses.

In some business structures, such as corporations and limited companies, firms are registered as a seperate legal bodies. States were members are citizen connote that evey shareholders are from one locality.

Learn more about Limited liability from

brainly.com/question/14023701

7 0
2 years ago
Sheffield Corp. traded machinery with a book value of $978480 and a fair value of $906000. It received in exchange from Ivanhoe
Lemur [1.5K]

Answer:

Gain $72,480

Explanation:

Calculation for the amount of gain or loss that Sheffield should recognize on the exchange

Using this formula

Gain/Loss= Book value – Fair value

Let plug in the formula

Gain/Loss= $978,480 – $906,000

Gain=$72,480

Therefore the amount of gain or loss that Sheffield should recognize on the exchange will be $72,480

3 0
3 years ago
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