Answer:
a. Cash basis - Service revenue is $900
b. Accrual basis - Service revenue is $2,100 (which is $1200 + $900)
Explanation:
In accounting, there are 2 basis for recognizing transactions; these are cash basis and accrual basis.
In cash basis, sales and expenses are not recorded unless cash has been collected and paid respectively. In the accrual basis of accounting, expenses and sales are recorded when incurred and earned respectively.
Revenue earned under the accrual basis would therefore include the revenue for which cash has been collected and those for which cash is yet to be collected.
Answer:
franchise
Explanation:
The right to sell a good or service within an exclusive market is a _____.
franchise
market power
license
patent
Answer: primarily cyclical deficit
Explanation:
Budget deficit occurs when the government expenditure for a certain year is more than the revenue the government makes.
Since the the United States economy was operating close to potential. The budget deficit experienced by the United States in 1969 was primarily cyclical deficit.
Answer:
A medical specialty concerned especially with the ear, nose, and throat and related parts of the head and neck : otolaryngology All antihistamines have at least some drying effects, called anticholinergic properties.
Explanation:
The correct answer is letter c. create consumer demand. Advertising, fashion trends, and new product introductions serve to create consumer demand.
Disequilibrium occurs when the quantity supplied and the quantity demanded are not the same in a market. The statement presented is True.
