Answer:
a. Revenue recognition principle
Explanation:
The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting
It is not recorded when the cash is actually received.
When the sale is made, the same is to be shown in the books of accounts
Therefore as per the GAAP, the revenue should be addressed by revenue recognition
hence, the correct option is a.
Answer:
formed a valid contract because Rachel's outward expressions showed the formation of a contract.
Explanation:
In contract, outward expressions refers to a situation when both parties has directly communicate the terms of a certain transaction and agreed upon it.
The contract is considered as 'valid' and considered to be a verbal agreement as soon as Rachel proposed a price and Julius agreed upon it.
One thing to remember, Even though this contract is considered as valid , it would be hard for Julius to held Rachel accountable to court since he has no way to proof that the verbal agreement has been made.
A company that exists on different locations around the world I think.
Hey there!
Your answer is reciprocal independence.
In reciprocal independence, different areas of a company are constantly communicating with each other.
Sequential independence means that one area is dependent on the actions of another, which is not what this is describing.
In pooled independence, different parts of the business are very separate and don't really interact with others, which is definitely what this is describing.
Hope this helps!
