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disa [49]
3 years ago
10

When a company provides services for which cash will not be received until some future date, the company should record the amoun

t received as unearned revenue for the amount charged to the customer.True / False.
Business
1 answer:
elixir [45]3 years ago
6 0

Answer:

False

Explanation:

The revenue principle and the matching principles are two principles that help in the determination of the period in which expenses and revenues are recognized. In line with the principle, as long as any revenue is realizable, then such expenses or revenues are recognized. As long as services are rendered or goods transferred, regardless of the time in which the cash is received, revenue is recognized. However, accrued revenue is that which is recognized before receiving cash, while deferred revenue is the revenue recorded or realized after receiving cash.

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A nation has a ___________ in the production of a good if it can produce that good more effectively or efficiently than it can p
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7 0
3 years ago
Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amou
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Answer:

COGS= $67,200

Explanation:

Giving the following information:

Your campus computer store reported:

Sales Revenue of $168,000.

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