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3 years ago

According to generally accepted accounting principles (GAAP), revenue is recognized as income when:

Business

1 answer:

bogdanovich [222]3 years ago

4 0

Answer:

the transaction is complete and the goods or services are delivered.

Explanation:

According to generally accepted accounting principles (GAAP), the revenue should be recognized when the goods or services are delivered and the transaction is completed in all respects.

The revenue recognition principle applies when the revenue is realized or earned whether cash is received or not plus it also follows the accrual basis of accounting. Here, realizable means that customer received the product but the payment is made at the later date

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Cash markets are also known as Group of answer choices speculative markets spot markets dollar markets derivative markets

alukav5142 [94]

Answer:

Cash markets are also known as spot markets

________________________________

Spot markets are: markets designed to attract speculator.

8 0

2 years ago

Analyze the given scenario for potential ethical concerns.

Alexxx [7]

1. The importance of anti-virus software it to help prevent a virus (such as malware) from infecting the computer/electronic device and preventing the possibility of a security breach within the companies system. 2. Susan could have easily prevented this scenario from happening by paying attention to why she was supposed to, following the rules, and staying away from suspicious websites. 3. The ethical issues this scenario illustrates is the lack of attention employees have in the work place. 4. The company could lose valuable and confidential data within their program by hackers. 5. Companies could set up mandated reminders to their employees to keep track of their anti-virus software and make sure it’s up to date.

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2 years ago

Read 2 more answers

Can someone explain the relationship between consumer expectations and economic performance?

maks197457 [2]

If a consumer believes that the price of the good will be higher in the future he is more likely to purchase the good now. If the consumer expects that her income will be higher in the future the consumer may buy the good now. In other words positive expectations about future income may encourage present consumption.

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3 years ago

Tentacle Television Antenna Company provided the following manufacturing costs for the month of June. Direct labor cost Direct m

Temka [501]

Answer:

C. $65,800

Explanation:

Fixed csot: those which do not change for a relevant range with the production output. They aer constant.

Factory insurance 21,000

Factory insurance 13,000

Factory manager's salary 10,800

Janitor's salary 5,000

Property taxes: 16,000

Total Fixed Cost: 65,800

The direct materials and direct labor are variable cost as they drop to zero if no unit is produced.

Same goes with packaging cost, if no unit is produced then, no packagin is needed.

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3 years ago

The prime minister of Equalia has called for the nation's legislators to enact new legislation designed to shift the country awa

yuradex [85]

Answer:

The most likely problem to arise due to a shift from socialism to capitalism is unequal distribution of wealth.

Explanation:

In a socialist system the businesses and properties are owned by the government. The government ensures equal distribution of income and wealth in the society.

However, in a capitalist system the business and properties are owned by private individuals. People earn income on the basis of their contributions. The government does not interfere in the economy, it's the market forces control the economy.

In a socialist system income redistribution takes place from rich to poor. Such things do not happen in capitalism. So people are mostly to face the problem of unequal distribution of wealth through this shift.

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3 years ago