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
goldfiish [28.3K]
4 years ago
14

The revenue recognition principle states that: Multiple Choice Revenue should be recognized in the period goods and services are

provided. Revenue should be recognized in the period the cash is received. Revenue should be recognized in the balance sheet. Revenue is a component of common stock.
Business
1 answer:
lidiya [134]4 years ago
5 0

Answer:

Revenue should be recognized in the period goods and services are provided.

Explanation:

IFRS 15 requires revenue to be recognized when control of goods or services has been made to the customer. Control is when all the risks and benefits associated with the product or service has been transferred to the customer.

You might be interested in
Answer Quick plz<br><br><br>How would you write $25.08 properly on a check?
postnew [5]

Answer:

you should write it just like it says

6 0
3 years ago
Bonnie purchased a new business asset (five-year property) on March 10, 2019, at a cost of $30,000. She also purchased a new bus
bearhunter [10]

Answer:  The cost recovery deduction for 2019 for these assets is $43000.

Explanation:

New business asset (five year property) purchased March 10, 2019 = $30000

New business asset (seven year property) purchased on November 20, 2019 = $13000

Additional depreciation of the first year is referred as the bonus depreciation.

Also, bonus depreciation in the year 2019 is at 100% of the value of assets bought during this year.

∴ Total assets value = New business asset (five year property) + New business asset (seven year property)

= $30000 + $13000

= $43000

Hence, the cost recovery deduction for 2019 for these assets is $43000.

6 0
4 years ago
Whole Grain Bakery purchases an industrial bread machine for $24,500. In addition to the purchase price, the company makes the f
Shkiper50 [21]

Answer:

$29,800

Explanation:

Calculation to determine initial cost of the bread machine

INITIAL COST

Purchase Price: $24,500

Freight: $1,450

Installation: $2,900

Testing: $950

Total cost of the bread machine: $29,800

Therefore initial cost of the bread machine is $29,800

7 0
3 years ago
Which of the following is a disadvantage of outsourcing?
Sonbull [250]

Answer:

b. ​It reduces productivity and revenue growth.

Explanation:

The disadvantage of outsourcing is that it reduces productivity and revenue growth. Due to outsourcing, the company ceases to produce a product in its own facility and gives the entire production responsibility to third party. This is because the company might not have the capability to produce on its own or it might be costly for the company.

Since the company has to give production cost, over runs, labour cost etc along with margins to the third party, hence there is a decrease in revenue growth and productivity of the company.

4 0
4 years ago
If people expect higher inflation and the fed takes actions that increase inflation, thus making people's expectations self-fulf
Dmitry_Shevchenko [17]
The expected higher inflation happened. However, people don't want an inflation because prices on products would increase.  <span>Most probably the people would ask for a salary increase in this event to cope up with the changes in the marketplace.</span>
8 0
4 years ago
Other questions:
  • Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 42 cents per mil
    7·1 answer
  • Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8
    15·1 answer
  • True or false, according to the chart, jobs in info services have the best career outlook.
    6·1 answer
  • Bristlebird Corporation (E&amp;P of $700,000) has 3,000 shares of common stock outstanding. Juan owns 1,500 shares and his wife,
    15·1 answer
  • Fresh and Clean, Inc. is considering implementing a system that will pay its cleaning workers based on the number of completed r
    15·1 answer
  • Jordan plans to lease a BMW from a local car dealership. Help Jordan understand the lease terms for this car.
    14·2 answers
  • The Evanec Company's next expected dividend, D1, is $3.03; its growth rate is 5%; and its common stock now sells for $34.00. New
    9·1 answer
  • You have been asked by a small credit union to help investigate an alleged fraud in a bankruptcy case in which it is involved. I
    12·1 answer
  • The categories of continuous innovation, dynamically continuous innovation, and discontinuous innovation are based on levels of
    10·1 answer
  • What type of title insurance coverage protects the holder from damage due to a secret lien?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!