1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ankoles [38]
3 years ago
7

The concept or principle that states that companies should recognize revenue when goods or services are transferred to customers

for the amount the company expects to be entitled to receive in exchange for goods and services is referred to as the:
Business
1 answer:
nexus9112 [7]3 years ago
6 0

Answer:

core revenue recognition principle

Explanation:

Evenue recognition us defined as recognising a revenue when the collection of cash from a sale has been made or is reasonably assured. It is recognised in the period when it occurs.

The matching principle states that expenses are incurred when obligations are incurred, and revenue are recognised when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for goods and services.

You might be interested in
The maintenance of common facilities, security, advertising, and special events to attract consumers are handled by the shopping
Licemer1 [7]

Answer:

The correct answer is common area maintenance.

Explanation:

Maintenance costs for common areas are charges (on rent) to tenants for the maintenance costs of lobbies, rest rooms, parking lots, patios and other common areas.

The conservation and maintenance of the building is one of the obligations that every community of owners must fulfill by Law. Sometimes, the neglect or the lack of liquidity in the communities, prevents the necessary conservation work.

3 0
3 years ago
On the basis of the information, and assuming trade occurs between the three states, we can expect Multiple Choice Washington to
Goshia [24]

Answer: Washington to exchange apples with Texas and receive money in return.

Explanation:

The picture relating to the question has been attached.

From the question, we are informed that Michigan has surplus autos, and wants lettuce. Texas has surplus lettuce and wants apples. Washington has surplus apples and wants autos.

If trade occurs among the three states, Washington will exchange its apples with Texas since it has surplus apples and Texas also want apples. Of the three states, it is only Washington that has surplus apples so it can exchange with Texas for money.

7 0
3 years ago
Our immediate short term memory for new material is limited to roughly ________ units of information.
Alecsey [184]
<span>Our immediate short term memory for new material is limited to about seven unites of information. Immediate short term memory is the ability we all have to remember a small bit of information for a few seconds.</span>
6 0
3 years ago
When Joe screens job applicants to ensure that he hires the most qualified candidate, he is performing the human resource functi
saul85 [17]

Answer:

Candidate Screening

Explanation:

Candidate Screening process is one of the human resource function through which the top managers works for selecting the best candidate's applications out of all those applications received. It involves screening that is going through the candidates resumes and cover letters.

It is a method through which skimming is done that is rejection of the unrequired candidates is done. Under such a method the candidate's screening is done keeping in mind the qualifications and experience of the candidate fit for the required post in the organization.

It is a negative process because it involves rejection of the candidates applications.

6 0
3 years ago
Read 2 more answers
McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekly wage o
viva [34]

Answer:

As a result of operations, there will be an understatement of McGinnis’ net income for the most recent fiscal year of 30900

Explanation:

Services             40900

Weekly wage     10000

FY end on June  30900

The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company

5 0
3 years ago
Other questions:
  • Xinhong Company is considering replacing one of its manufacturing machines. The machine has a book value of $45,000 and a remain
    12·1 answer
  • Accounts receivable $ 35,000 debit Allowance for uncollectible accounts 500 credit Net Sales 180,000 credit All sales are made o
    14·1 answer
  • On August 1, ABC Company sold its investment in Teal Company for $12,400. On the previous balance sheet, the investment had a fa
    6·1 answer
  • What does 5. Accounting mean
    14·1 answer
  • Using contract manufacturing as a strategy to reach global markets gives firms the advantage of
    11·1 answer
  • A department within an organization that focuses on generating profits is called a(n
    6·1 answer
  • From a customer service perspective, one of the four important characteristics for global market and strategy is technology comp
    8·1 answer
  • Conducting a thorough assessment to document what sensitive information an organization is collecting, where it is stored, how l
    13·2 answers
  • The calculations for some profitability ratios are the same as the calculations for common-size analysis of the income statement
    7·1 answer
  • 2. What should Parker have done during the sales presentation when Kitchel told him that he needed to think it over?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!