There will be inadequate liabilities.
What Does Sales Revenue Mean?
Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. One part of sales revenue may be paid in cash, and the other part may be paid on credit using methods like accounts receivable.
Either the gross revenue total or the net revenue amount can be used to represent sales revenue on the income statement. All deductions for product returns, the potential for undelivered items, and the cost of bad debt are all included in net revenue.
to know more about sales revenue
brainly.com/question/16232387
#SPJ4
When four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.
Given an incomplete sentence related to infineon technologies.
We are required to fill the sentence by an appropriate term.
We can fill the sentence with "a cartel".
A cartel is basically a formal agreement among firms in an oligopolistic industry. Members of cartel may agree on such matters as prices, total industry output, market shares, allocation of customers, allocation of territories, bid-rigging, establishment of common sales agencies, and the division of profits or combination of these. It is basically a group of people who are collected to complete an objective.
Hence when four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.
Learn more about cartel at brainly.com/question/12015868
#SPJ4
Answer:accrual basis
Explanation: the need the truth on the accounting princess so it has to be to accrual basis
Electricity consumed in the manufacturing process is inventoriable cost per unit using variable costing.
Variable costing is that concept which is used in managerial and cost accounting. In this type of costing the fixed manufacturing overhead is excluded from the product-cost of production.
The method contrasts with absorption costing, in which the fixed manufacturing overheads are allocated to products which are produced. In accounting frameworks such as GAAP and IFRS, variable costing cannot be used in financial reporting.
Although accounting frameworks such as GAAP and IFRS prohibits the use of variable costing in financial reporting, this costing method is commonly used by managers.
To know more about variable costing here:
brainly.com/question/27853679
#SPJ4
Answer: $57,600
Explanation:
Accounting works by the Accrual basis. What this means is that transactions are recorded in the period they occur not in the period they are paid for.
In the above, Lee Inc. billed its customers $57,600 for services performed during the year. This is a service company and since their revenue comes from billings, this is their revenue for the year.
It does not matter that some of the services have not been paid for, it matters that the services were performed during the year.
