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
Nookie1986 [14]
3 years ago
11

If a company is using the accrual basis accounting method, when should it record its earned revenue?

Business
1 answer:
BigorU [14]3 years ago
4 0

Answer: b

Under the accrual basis of accounting, expenses are matched with the revenues related to it and/or are reported when the expense occurs, and not just when the cash is paid. The company should record its earned revenue when services are rendered. Payment may come at a later date.

You might be interested in
Multiple choice!
kodGreya [7K]

Answer:

Spillover cost.

Explanation:

Spillover cost refers to those costs or changes in the value of a certain good that are caused by issues external to the intrinsic characteristics of said good. Thus, for example, external influences such as limitations on oil extraction or the development of electric cars can generate a massive drop in the prices of conventional gasoline cars. Another clear example of this situation is the one described in the question, where a negative change in a certain neighborhood can lower the prices of the houses found there.

7 0
3 years ago
Oromyx Inc., a manufacturer of home appliances, received consumer complaints about its product demonstration and installation se
Klio2033 [76]

Answer:

B) customer satisfaction

Explanation:

Customer satisfaction is a measure that shows how happy the customers are with the products and services of the company. In this scenario, the work team improved the customer satisfaction because when the employees were trained, they were able to offer a better service which increased customer satisfaction and this was reflected in the service ratings and the rise in sales.

4 0
4 years ago
Hilary had an outside basis in LTL General Partnership of $15,000 at the beginning of the year. LTL reported the following items
yan [13]

Answer:

$0

Explanation:

$15,000 (Hillary's partnership basis at the beginning of the year) + $10,000 (ordinary business income) + $8,000 (tax exempt income) - $15,000 (reduction in share of partnership's debt) - $25,000 (cash distribution) = -$7,000. Since the basis cannot be negative, it is $0.

Also, since Hillary's adjusted basis resulted in a negative value, she must report a capital gain of $7,000. That way her basis = -$7,000 + $7,000 = $0

4 0
3 years ago
Read 2 more answers
McCoy's Fish House purchases a tract of land and an existing building for $990,000. The company plans to remove the old building
bekas [8.4K]

Answer:

$ 1,001,800

Explanation:

The following costs will be included in th cost of land

Purchase cost: 990,000

Closing cost: 2,900

Back Taxes: 8,900

(land taxes are payed every year, so they can't be included in the cost of land)

Total cost of land= 990,000+2,900+8,900=   1,001,800

6 0
4 years ago
If denied a loan, which of the following changes to your application process will not increase your chances of approval when you
fredd [130]

Answer:

a. Apply for a larger loan amount.

Explanation:

In the case when the loan is re-applied after rejecting so if we applying for a larger loan should be rejected even quickly. As if the financial insitution found that the smaller amount loan is been rejected so application made for larger amount of loan should not be helped out for approve. Also there is proper tracking of loans with regard to the customer names

Hence, the option a is correct

6 0
3 years ago
Other questions:
  • A stadium incurs a number of costs to accommodate fans. If a stadium pays $16,000 for labor, $55,000 for leasing parking space,
    6·1 answer
  • The intentional dispossession or unauthorized use of the personal property of another is known as:
    5·1 answer
  • A 10-year bond of a firm in severe financial distress has a coupon rate of 14% and sells for $900. The firm is currently renegot
    15·1 answer
  • The SIOC acts as the FBI's worldwide Emergency Operations Center. Which of these is established by the FBI in response to signif
    8·1 answer
  • A ____________ salesperson calls on people who make decisions about products but don't actually buy them, and while they call on
    12·1 answer
  • Suppose that a country bandcountry band called Only HereOnly Here has released its first CD with WantedWanted Records at an inte
    9·1 answer
  • Blackmon Brothers law firm used 165 legal pads over the last three weeks (15 days). It takes them three days to get more, and th
    8·1 answer
  • The U.S. government pays for _____ that producers would most likely not provide in the marketplace, such as building roads.
    13·2 answers
  • During July, Whitman paid $189,600 to employees for 8,900 hours worked. 4,760 units were produced during July. What is the direc
    6·1 answer
  • Some people contend that any ____ worldview will eventually fail because it wrongly assumes we now have or can gain enough knowl
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!