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Genrish500 [490]
3 years ago
15

Flyer Co. billed a client for flying lessons given in January. The payment was received in February. Under the accrual basis of

accounting, when should Flyer record the revenue?
Business
1 answer:
blondinia [14]3 years ago
7 0

Answer:

Under the accrual basis of accounting the Flyer should record the revenue in January.

Explanation:

Under accrual basis of reporting revenue or income is recorded when earned. For example in case of manufacturing companies sales are recorded when the product is delivered.

Revenue is recorded on basis of performance obligation. The company shall record revenue on satisfcation of his performance obligation. If the payment is not received the company can record revenue against receivable.

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3 years ago
Excise tax is levied in the __ of goods and services
lina2011 [118]

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its probably buying

Explanation:

6 0
2 years ago
Which of the following statements is false? Multiple Choice The short run refers to a period of less than one year. In the long
Jet001 [13]

Answer:

The short run refers to a period of less than one year.

Explanation:

The statements is false that the short run refers to a period of less than one year.

The short run, long run and very long run are different time periods in economics.

<u>Short run – where one factor of production (e.g. capital) is fixed</u>.

long run – Where all factors of production are variable,

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Insurance can help you: evefi
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A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 3-for-1 stock split, the number
Grace [21]

A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be 120,000 shares.

Stocks are gadgets of fair ownership in an agency. For a few businesses, shares exist as an economic asset providing for an identical distribution of any residual profits, if any are declared, in the shape of dividends.

In monetary markets, a share is a unit used in mutual finances, limited partnerships, and real estate funding trusts. Percentage capital refers to all of the stocks of an agency. The owner of shares within the agency is a shareholder of the business enterprise.

A share is referred to as a unit of possession that represents the same share of a business enterprise's capital. A percentage entitles the shareholders to an equal declaration of earnings and losses of the employer. There are majorly sorts of shares i.e. equity stocks and desire stocks.

Learn more about shares here brainly.com/question/25630152

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3 0
2 years ago
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