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Rudik [331]
3 years ago
10

Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm

prepares monthly financial statements, when should it recognize revenue from this engagement? The law firm should recognize the revenue in________
Business
1 answer:
UkoKoshka [18]3 years ago
4 0

Answer:

The month of April

Explanation:

Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm prepares monthly financial statements, the law firm should recognize the revenue in April because according to revenue recognition principle, revenue should be recognized in the accounting period in which services are performed, and Susan zupan performed the work in April so therefore the firm should recognize the revenue in April.

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During which time period was the annual rate of increase of the speed the greatest? a) from year 1 to year 2 b) from year 1 to y
muminat

The annual rate will increase with the greatest speed from year 1 to year 3.

<h3>What is the growth rate?</h3>

A growth rate is the proportion that changes the price of all goods and services produced in a country over a specific time period in comparison to a previous period.

The growth rate is used to measure the comparative fitness of an economic system over time. The numbers are commonly compiled and announced quarterly and annually.

From 1948 to 2021, the GDP Annual Growth Rate in the United States averaged 3.14 percent, with an all-time high of 13.4 percent in the fourth sector of 1950.

From the above declaration, it's clear that choice C, year 1 to year 3, is the proper option.

Learn more about Growth rate, refer to:

brainly.com/question/13776641

4 0
1 year ago
Thornbrough Corporation produces and sells a single product with the following characteristics: Per Unit Percent of Sales Sellin
DaniilM [7]

Answer:

-$5,500

Explanation:

The computation of the overall effect on the company net operating income is as follows:

New Variable cost per unit is

= $44 + $11

= $55

Now the new contribution margin per unit is

= $220 - $55

= $165

New unit Monthly sales is

= 7,000 units + 500 units

= 7,500

Now

New total contribution margin :

= 7,500 units × $165

= $1,237,500

And, the Current total contribution margin is

= 7,000 units × $176

= $1,232,000

So, the change would be

= $1,232,000 - $1,237,500

= -$5,500

6 0
2 years ago
Any actions a firm takes that have the effect of reducing the level of rivalry in an industry that also do not require firms in
Elena L [17]

Answer:

tacit cooperation is the correct answer.

Explanation:

3 0
3 years ago
Joe and Michelle have a partnership firm. Based on the income-based method of calculating GDP, what category is the income earne
tekilochka [14]

Answer: B) employee’s compensation.

The income approach to measure gross domestic product or GDP starts with the income earned (wages plus plus rents plus interest plus profits) from the production of goods and services.

Based on the income-based method of calculating GDP, income or wages earned by Joe and Michelle for being partners can be categorized under B) employee’s compensation.


3 0
2 years ago
You can probably use the 1040EZ form, as long as what is true?
AleksAgata [21]
As long as you have no dependents

1040EZ is the simplified tax paying form made by IRS. In order to use it you juts have to select your tax filling status and enter some details for your tax counting.

But if you have a dependent ( like a spouse who claimed that you should pay for your child's education fund) , you can not use 1040EZ
3 0
2 years ago
Read 2 more answers
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