Answer:
The answer is letter "D": Estimate the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods.
Explanation:
There are five steps for revenue recognition established by the Financial Accounting Standards Board (<em>FASB</em>) which are: <em>Identifying the contract with a customer; Identifying the performance obligations in the contract; Determining the transaction price; Allocating the prices to the performance obligations </em>and<em>; Recognizing revenue.</em>
In that sense, estimating the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods has nothing to do with it.
Answer:
A ledger can be prepared manually or by computer. 5. Footings replace the need for debits and credits.
Answer: c. Decline is reversible at the crisis stage, whereas it is irreversible at the dissolution stage.
Explanation: Crisis Stage; at this stage decline is still reversible if the
organisation reorganizes it ways of operations or conducting business. What they can do at this point is to carryout cutbacks and layoffs which would help reduce it's financial burden and create additional capital to run the business. At the dissolution stage nothing can be done anymore to salvage the company as it would have run into bankruptcy and would need to fold up.
January February
Opening Cash Balance 47000 290700
Add: Collection from Customer 331800 378100
Collection of Notes Receivable 18000
Proceeds of Sale of Security 5400
Less: Payments for Purchases 106100 141100
Cash Dividend 12700
Cash Balance 290700 520400
Answer:
b. whether a risk is fundamental or particular may determine how society will deal with it.
Explanation:
The fundamental risk is the risk that impacts the larger number of people or we can say the population
While the particular risk is the risk that contains the losses of personal with respect to the origin and their effects. Here it impacts an individual or smaller number of people
So the distinction between both risk could be figured out by seeing how society would deal with it
Hence, the correct option is b.