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Lelu [443]
3 years ago
13

The new ASC Topic 606 for revenue recognition:

Business
1 answer:
denpristay [2]3 years ago
5 0

Answer:

addresses when and how revenue should be recognized in contracts that provide both goods and service to customers.

Explanation:

ASC 606 is a new standard that provides guidance on revenue recognition to the companies that provide goods and services to its customers. This standard is for both public and private entities. Earlier there were some variations in the revenue recognition process across different companies. The new standard has now simplified standardization in financial reporting.

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g Which item is an indication of integrity under the Standards of Ethical​ Conduct? A. Recognize and communicate professional li
Reptile [31]

The correct answer is B) Keep information confidential except when disclosure is authorized or legally required.

The item that is an indication of integrity under the Standards of Ethical​ Conduct is "Keep information confidential except when disclosure is authorized or legally required."

All serious companies have to has their code of ethics. One of the most important indicators that this code is being followed is that the company keeps all the information of a client, confidential. The client deposits its information in the company's hands, knowing that the company is responsible for the way it uses only for the determined purposes established in the contract or agreement. This promise only can be broken when a legal authority requires disclosure.

3 0
3 years ago
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Which of the following is NOT one of Porter's five primary forces?
kifflom [539]

Answer:

3. Threat of flooding the industry with excellent products

Explanation:

Here are Porter's five primary forces:

- Competition between organizations in the same industry.

This create a sense of rivalry that force each organizations to keep improving their products and services.

This is what represented by option 1.

- Potential of new entrants into the industry.

New entrants into the industry will take a portion of market share. This will benefit the customers because it often force competitors to lower the price of their product

This is what represented by option 2

- Power of suppliers.

Suppliers have the ability to connect the producers and the customers. This give them enough leverage to influence the price imposed by the company.

This is what represented by option 4

- threat of substitute products.

Just like new entrants, substituted products could also take away the market share and reduce the profit that can be taken by companies. This is what represented by option 5.

- Power of customers

Customers could create a demand based on their preference. Companies will have to tried their best to fulfill this demand if they wanted to survive.

This is not mentioned in the options above.

3 0
3 years ago
Income __________ when there is zero beginning inventory and all inventory units produced are sold.
Natali5045456 [20]

Answer:

Income will be the same under both variable and absorption costing when there is zero beginning inventory and all inventory units produced are sold.

Explanation:

3 0
1 year ago
Item8 4 points Time Remaining 44 minutes 36 seconds00:44:36 Item 8 Time Remaining 44 minutes 36 seconds00:44:36 Information for
arsen [322]

Answer: $38,250

Explanation:

Current portion of tax is the amount of tax payable on the current taxable income:

= Taxable income * tax rate

= 153,000 * 25%

= $38,250

8 0
2 years ago
PLS HELP IF YOU CAN!! In the first year of your career you learn that to be promoted, you must demonstrate that you have the ski
Salsk061 [2.6K]

Answer:

Although all of these are good ways to demonstrate skills the best would be to finish projects as it shows you are dedicated and you can put those skills into action with different tasks.

Explanation:

4 0
2 years ago
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