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
Naddik [55]
3 years ago
11

The cost-recovery method of recognizing profit for accounting purposes is permitted if a. collections in the year of sale do not

exceed 30% of the total sales price. b. an unrealized profit account is credited. c. there is no reasonable basis for estimating collectibility. d. the method is consistently used for all sales of similar merchandise.
Business
1 answer:
kramer3 years ago
6 0

Answer:

Correct Answer:

c. there is no reasonable basis for estimating collectibility.

Explanation:

The cost recovery method of revenue recognition is a concept in accounting that refers to a method in which a business does not recognize income related to a sale until the cash collected exceeds the cost of the good or service sold. <em>When a situation present itself where there is no reasonable basis for estimating collectibility, it justifies the use of the cost recovery method of revenue and profit recognition.</em>

You might be interested in
Bristlebird Corporation (E&amp;P of $700,000) has 3,000 shares of common stock outstanding. Juan owns 1,500 shares and his wife,
Schach [20]

Answer:

The correct answer is

Juan has dividend income of $250,000.

good luck ❤

6 0
3 years ago
In a(n) contract, the seller guarantees to sell 100 percent of its goods to one buyer, and the buyer agrees to accept the entire
Sonja [21]

Answer:

Output; Is

In a(n) <u>output</u> contract, the seller guarantees to sell 100 percent of its goods to one buyer, and the buyer agrees to accept the entire quantity. In a(n) contract, the buyer agrees to purchase 100 percent of its goods from one seller. These kinds of contracts <u>is</u> enforceable under the UCC.

7 0
3 years ago
Jamal was recently hired as a sales representative for a pharmaceutical company. He notices that all the other sales reps "pad"
il63 [147K]

Answer: Conformity

Explanation: Ethics trap refers to the situation in which an individual finds difficult to assess what is morally correct for him or her and what is not.

  Conformity refers to the ability of an individual to match the customs and beliefs of a group to mingle with that particular group.

In the given case, Jamal has been working in the company where all the members have been cheating on their accounts except for him. This urges Jamal to do the same for being a part of group.

Hence we can conclude that the correct option is C.

7 0
4 years ago
Personal selling refers to
Mrac [35]

Answer:

The answer is option A)Personal selling refers to:  A customer-directed flow of communications, often in a face-to-face encounter, designed to promote a product with the purpose of making a sale.

Explanation:

Personal selling involves a face to face approach encounter with customers. In advertising, Personal selling involves the use of marketers with great interpersonal and sales skills employed to promote a product offering in the field where they can interface one on one with customers for the purpose of generating sales.

This supports the definition of personal selling as a customer-directed flow of communications, often in a face-to-face encounter, designed to promote a product with the purpose of making a sale.

3 0
3 years ago
The following information was available for the year ended December 31, 2013: Net sales $ 803,000 Average accounts receivable fo
WARRIOR [948]

Answer: 3.70  

Explanation: Stock turnover can be calculated using following formula :-

stock\:turnover\:ratio=\frac{cost\:of\:goods\:sold}{average\:stock}

where,

cost of goods sold =598,600

average stock = 162,000

now, putting the values into equation above, we get :-

stock\:turnover\:ratio=\frac{598,600}{162,000}

                                           = 3.70

8 0
3 years ago
Other questions:
  • Roundwell motors purchases a manufacturing plant for​ $15 million, pays​ $5 million in cash as down​ payment, and borrows the re
    6·1 answer
  • Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amou
    13·1 answer
  • The following statements are true. Explain why. a. If a bond’s coupon rate is higher than its yield to maturity, then the bond w
    12·1 answer
  • When you buy an e-book at Amazon, it uses ________ to recommend an e-book by a similar author within the same genre.
    8·1 answer
  • On March 1, 2020, Mike Dials purchased a suit at Crane's Fine Apparel Store. The suit cost $950 and Mike used his Crane credit c
    13·1 answer
  • At dana's new business he's running into problems with employees who don't want to change procedures or do things his way this c
    6·1 answer
  • When units produced exceed units sold, net income will generally be ______ costing. Multiple choice question. the same under bot
    10·1 answer
  • Define credit default swap. ​
    15·1 answer
  • The current value in today's dollars of a future sum of money is called :______
    6·1 answer
  • Differentiate between a bond coupon rate and the market rate of interest.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!