Revenue is reported on the income statement in the period earned. The accounting concept supporting this reporting is

1 answer:

4 0

The right answer for the question that is being asked and shown above is that: "c. the revenue recognition principle. " Revenue is reported on the income statement in the period earned. The accounting concept supporting this reporting is the revenue recognition principle.

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Late in the semester, a friend tells you, "I was going to drop my psychology course so I could concentrate on my other cours

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Answer:

Your friend is not reasoning correctly

Explanation:

I'd say, since he admit to putting so much time and effort into psychology, there's simply no need to drop the course. So therefore, your friend is incorrectly reasoning.

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3 years ago

On July 28, Vent Corp. sold $500,000 of 4%, eight-year subordinated debentures for $450,000. The purchasers were issued 2,000 d

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Answer: Vent should record $70,000

Explanation:

The requirement is to determine the amount of discount on the debentures that Vent should record at issuance.

ASC Topic 470 states that the proceeds from the issuance of debt with detachable stock warrants should be allocated between the bonds and the warrants based upon their relative fair values at the time of issuance.

In this case, the fair value of the bonds is not known, but the fair value of the warrants is $10 per warrant. Thus, the total fair value of the warrants is $20,000 ($10 × 2,000 warrants). The fair value of the debentures can be estimated to be $430,000 ($450,000 total proceeds – $20,000 fair value of warrants). The face value of the bonds $500,000 less the fair value of the bonds of $430,000 equals the bond discount of $70,000.

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3 years ago

You will be administratively suspended if you have a breath or blood alcohol level of ____ or above or refuse to submit to a che

olga nikolaevna [1]

As per ALS or administrative license suspension or revocation, a blood alcohol concentration of 0.08% or higher will automatically suspend you administratively aside from refusing to submit a chemical test. Automatically, licenses will be confiscated and will be suspended of criminal proceedings independently.

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3 years ago

Which of the following is not a type of qualitative forecasting?

Svetradugi [14.3K]

The following that is not a type of qualitative forecasting is Moving Averages

Qualitative forecasting has to do with the use of feedback and other research data to make a prediction about how the finances of a company is likely to change in a period of time.

This qualitative research is done by making analysis of the amount of money gotten in the past by the company to estimate future financial operations.

There are four types of qualitative forecasting such as:

Executive Opinions
Consumer Surveys.
Delphi Method
Sales Force Polling

Therefore, the correct answer is Moving Averages.