Answer:
Completing the last paragraph of the question with correct answers:
Ralph Lauren is using push policy with the retail showcase and pull policy with the social media campaign.
Explanation:
Ralph Lauren company makes use of push policy when placing their products on the retail showcase. Push policy involves taking a product towards the intended market or consumers.
Also, Ralph Lauren company makes use of pull policy when promoting it's seasonal styles on social media. Pull policy is a marketing strategy that draws the consumers of a product, to that product.
Non of the above all of the others take from you or make problems.
Answer:
$7,000 is the amount of revenue in year 1
Explanation:
The amount received from the customer is $24,000,which is payment for work to be performed over 24-month period i.e 2 years
In year 1,the work would be performed from June -December,hence 7-month worth of revenue should be recognized in year 1 as follows
revenue recognition in year=$24,000*7/24=$7,000
The amount of revenue attributable to year 1 on the income statement is $7,000
