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jolli1 [7]
3 years ago
7

Smart Touch Learning normally performs​ e-learning services for​ $500. However, Smart Touch Learning performed services for a cl

ient for a discounted price of​ $400. According to the revenue recognition​ principle, Smart Touch Learning would record this revenue for​ $400. True or false?
Business
1 answer:
ratelena [41]3 years ago
3 0

Answer:

TRUE

Explanation:

According to the revenue recognition it will follow an accrual basis. It record the revenue as earned as the services were perform during the current accounting period.

It will recognize revenue for 400 as it was the amount the parties agree upon.

The common fee's of Smart Touch uhsually are irrelevant.

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