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Reika [66]
3 years ago
8

Orange County Shop follows the revenue recognition principle. Orange County services a bicycle on July 31. The customer picks up

the bike on August 1 and mails the payment to Orange County on August 5. Orange County receives the check in the mail on August 6. When should Orange County show that the revenue was recognized?
Business
1 answer:
sp2606 [1]3 years ago
4 0

The correct answer is A) July 31st.

Orange County shows that the revenue was recognized on July 31st.

The other options of the question were B) August 1. C) August 5. D) August 6.

To be successful, a business needs good control and operation systems. Accounting is of the utmost importance when controlling the finances of a company. You have to keep your records straight. Your accountant needs to clearly understand when to record revenue in your book. So the accountant has to understand the general principles of accounting. According to the revenue recognition principle, revenue has to be recognized when they are realized, so you keep it in the book.

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Answer:

The answer is: A) Autocratic

Explanation:

Autocratic leadership style, also known as authoritarian leadership, is characterized by heavy control by the group's leader. The leader makes all the decisions and doesn't value the subordinates' contributions. Autocratic leaders make decisions based on their ideas and personal judgement, not the others'.

7 0
3 years ago
An organization has considered its sales channels, its customer service requirements, and its operating model. Also it has analy
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According to Michael Porter :

  • A sales channel is a strategy employed by a producer to market goods or services to final consumers. Depending on how things are delivered to customers, sales channels can be direct or indirect. With the aim of closing the sale, these channels can be platforms (online or offline), people, or partners.
  • A further perspective is that a sales channel is a source of income for a manufacturer that facilitates the sale of goods or services.
  • A business can sell its goods and services through direct channels like these.
  • Kiosks: These are self-service points where customers may make purchases and payments. Display rooms.
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<h2>What are the principles of a sales organization?</h2>

A sales organization is built on a few key organizational tenets that are closely related to the tenets of the entire business. These principles act like software, directing and regulating the organization's efficient operation. Principles assist the organization in pursuing its objectives and investigating market prospects.

<h3>What standards should a successful sales organization meet?</h3>

The management should be aware of the requirements for creating a successful sales organization before one is created. These are listed below:

1. The functions of the sales department should be clearly defined by the sales organization, and the activities of the salespeople and their superiors should be planned and coordinated in a logical manner.

Learn more about sales organization at :

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3 0
2 years ago
Fred ran short on cash and borrowed​ $300 through a payday loan company. the company charged him a fee of​ $60 to borrow the​ $3
Ne4ueva [31]
<span>The answer is 1.43 % per day. Calculations: Formula for simple interest: I=PRT, where I=interest; P= borrowed amount; R=rate of interest in percentage; T=time for repayment hence; P=$300, I=$60, T=14 days, then R=? R={(I/PT) *100)}% per day={(60/300*14)*100}=1.43 % per day interest rate (R) that Fred was charged for the aforementioned loan was 1.43 % per day</span>
3 0
3 years ago
True or false: No gain or loss is reported when treasury stock is reissued because GAAP does not consider transactions between a
trapecia [35]

Answer:

true

Explanation:

GAAP does not allow gains or losses to be reported when a corporation reissues its treasury stock.

3 0
2 years ago
During a management meeting, Lester, the CEO of Elite Office Equipment, reminded his management team of where the company wants
REY [17]

Answer: Vision statement

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Vision statement is referred to as or known as an organization's road map, which tends to indicate what the organization believes to become and achieve by putting forth a well defined direction and route for the organization's growth. These statements usually undergo the minimal revisions throughout the lifetime of an organization, unlike the operational goals that might be revised on yearly basis.

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