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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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Tim Company had sales of $30,000, increase in accounts payable of $5,000, decrease in accounts receivable of $1,000, increase in
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Answer:

$31,000

Explanation:

The computation of the cash collected from customers is shown below:

Cash collected from customers = Sales + Decrease in accounts receivable

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That it equally 2000

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Green Field county stadium is planning to conduct a cricket match between two teams A and B. A large crowd is expected in the st
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Answer:

Mode Name: BS-485 Half Duplex Mode 2 wires

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Explanation:

The BS-485 is an electrical interface, that supports half-duplex mode through 2 wires, and full-duplex mode through four wires. However, here, we only need the half-duplex mode, and that is enough as the recordings are to be shown on the screen, which is the receivers, and they do not need to talk to the transmitter, while the transmitter is transmitting the recordings to the screen. And since, BS-485 supports around 32 receivers, its more than enough for this question requirement. So its half-duplex mode, and an example of the Serial data transmission. And also, it's synchronous, as there is no stop in between the data packets.

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$14,960

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