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miskamm [114]
3 years ago
7

You tell Alex that the two of you are off to a great start. The balance sheet is completed, and it's time to start putting toget

her an income statement for the restaurant. Alex doesn't understand why you need to put together both an income statement and a balance sheet. What's the difference between them?
Business
1 answer:
Kazeer [188]3 years ago
8 0

Answer:

The balance sheet details a company's assets and liabilities at a certain period of time, while the income statement details income and expenses over a period of time

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D is the right answer
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In a bill-and-hold arrangement, revenue only can be recognized after the sale of the goods to the end user.
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The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.

A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.

In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.

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8 0
1 year ago
Cotton Brokers, Inc., enters into a contract to sell denim clothing to Delite Natural Fashion store, which in turn sells a pair
sergiy2304 [10]

Answer:

B

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3 years ago
The deprecation method that charges more expenses in earlier years than in later years is
vlabodo [156]
Double-declining balance. Keep in mind there are three main ways to depreciate: straight-line, units of production, and double declining balance. Straight-line means depreciating the same amount every year. Units of production is based off your production levels for the year. Double declining means you depreciate more in earlier years (2 times your straight-line rate) and depreciate less in later years. 
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A random sample of 84 shoppers were interviewed and 51 said they prefer to shop alone rather than with someone else. let p repre
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To calculate point estimate, we divide the parameter by the whole population.

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3 years ago
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