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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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Workshape Manufacturing has two classes of distributors: JIT distributors and non-JIT distributors. The JIT distributor places s
yulyashka [42]

Answer:

d. $672.41 per service call

Explanation:

The computation of the activity rate for servicing goods is shown below:

= (Total servicing good cost) ÷ (Total service calls)

= $195,000 ÷ 290

= $672.41 per service call

The total service call would be

= JIT distributors + Non-JIT distributors

= 200 + 90

= 290

All other information which is given is not relevant. Hence, ignored it

6 0
3 years ago
Which two actions should you take during an informational interview? Tell the interviewer that you would be willing to take any
storchak [24]
Speak with confidence
encourage the interviewer to do most of the talking- after all he is the interviewer, you don't want to dominate the interview
8 0
3 years ago
Read 2 more answers
A company sold equipment that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the equipment was $40,0
Maurinko [17]

Answer:

$0 Gain or Loss

Explanation:

Given that,

Original cost of the equipment = $100,000

Accumulated depreciation on the equipment = $40,000

Book value of the equipment:

= Original cost of the equipment - Accumulated depreciation on the equipment

= $100,000 - $40,000

= $60,000

Gain/Loss = Sale value - Book value of the equipment

                 = $60,000 - $60,000

                 = $0

Therefore, the company should recognize a $0 Gain or Loss.

7 0
3 years ago
Granval thinks a partnership will reduce his personal financial responsibility. this is true only if?
Orlov [11]

Granval thinks a partnership will reduce his personal financial responsibility. this is true only if Granval is not a general partner.

General partnership is a type of business agreement which is made between two or more individuals who agree to share all the assets, profits as well as  liabilities of the business.

Because of the simplicity and tax benefits in the general partnership, a general partnership is one of the most common legal business entities.

However, it's  very important to consider that each partner is personally responsible for the business, including debts and lawsuits, and is held liable for the actions of their partners.

To know more about general partnership here:

brainly.com/question/12983082

#SPJ4

4 0
1 year ago
What is the name of the process for developing new businesses as an outgrowth of a company's established business operations?
natima [27]
A corporate venturing
7 0
3 years ago
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