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tamaranim1 [39]
3 years ago
9

Live Wire Hot Rod Shop follows the revenue recognition principle. Live Wire services a car on July 31. The customer picks up the

vehicle on August 1 and mails the payment to Live Wire on August 5. Live Wire receives the check in the mail on August 6. When should Live Wire show that the revenue was recognized?
Social Studies
2 answers:
Sedbober [7]3 years ago
7 0

Answer:

July 31

Explanation:

Revenue from a service or good rented or purchased must be issued and recognized exactly on the day the service and good were chosen and reserved by the customer, even if the customer will not use the service or good at that time. day and even if payment is made on another day. In this case, we can state that Live Wire must show that the revenue was recognized on July 31, because it was on that day that it made the car available for customer service.

Leviafan [203]3 years ago
4 0

Answer:

The Live Wire show that the revenue was recognized on july 31

Explanation:

Here the Servicing of car as been done on July 31 , so revenue should be recognized on July 31 only, since the revenue is recognized at time of rendering service or selling goods.

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Read the following excerpt from the Declaration of Independence, and read
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Answer:

C

Explanation:

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3 years ago
Which term is defined as ""promoting minority inclusion in educational and employment opportunities""?
Airida [17]

Answer:

The term is affirmative action.

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3 0
3 years ago
When planning a trip to Spain, Brett and his wife, both Americans, were concerned about how much they could afford to spend in E
Snezhnost [94]

The correct answer would be option C, Exchange Rate.

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Explanation:

When one currency of a country is exchanged with the currency of another country, the rate at which the currencies are exchanged is called as the exchange rate.

For example while planning a trip to Europe from America, the couple have US dollars which they need to exchange in Euros to be able to use the currency in Europe.

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Learn more about Exchange Rate at:

brainly.com/question/10187894

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4 years ago
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<span>Mediterranean economies were short of gold but could supply salt, taken by places like the African salt mine of Taghaza</span><span>, whereas West African countries like Wangara </span><span>had plenty of gold but needed salt.</span>
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3 years ago
Read 2 more answers
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