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goldfiish [28.3K]
3 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]3 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.

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The profits from a mutual savings bank go to the:
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It goes to the stockholders
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4 years ago
Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to product y and product z
Alexus [3.1K]

The plantwide overhead rate charges an equal share of the total overhead to each product created in that plant. If products y and z were the ONLY two products produced in this plant, they both would be charged 50% of the total overhead.

3 0
4 years ago
McKinnon Enterprises owns a professional ice hockey team, the Rockford Penguins. The company sells season tickets for its upcomi
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Answer:

option (B) $640,000

Explanation:

Data provided:

Amount received =  $960,000

Total duration of a season = 6 months

Duration from January 1, 2018 to April 2018 = 4 months

Therefore,

The Deferred revenue recognized = \frac{\textup{960,000}}{\textup{6 months}}   × 4 months

or

The Deferred revenue recognized = $160,000 × 4 months

or

The Deferred revenue recognized = $640,000

Hence,

The correct answer is option (B) $640,000

4 0
3 years ago
B Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 5,0
faltersainse [42]

Answer:

Total equivalent units= 60,300

Explanation:

Giving the following information:

Beginning inventory= 5,000 units

An additional 68,500 units were transferred in from the prior department.

There were 33,000 units in the ending work in process inventory of the Assembly Department that were 60% complete concerning conversion costs.

We need to calculate the number of conversion units.

We will use the following structure:

Beginning WIP= 5,000

Transferred-in= 68,500

Total= 73,500

Ending WIP= (33,000)

Complete units= 40,500

The calculation for completion WIP:

ending wip*completion of WIP

33,000*0.6= 19,800

Total equivalent units= 40,500 + 19,800= 60,300

3 0
3 years ago
How many people went or is still going to vo-tech in Bloomsburg pa?<br><br>i need some advice
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Tours will be held on the following evenings, for the school districts listed. Times are 6:00 – 8:00 PM on these nights:

* Danville – February 3rd and 4th

* Central Columbia and Millville – February 10th and 11th

* Berwick – February 16th

* Southern Columbia and Bloomsburg – February 17th and 18th

7 0
3 years ago
Read 2 more answers
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