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elixir [45]
3 years ago
7

Which of the following is most likely to be considered revenue, according to the Financial Accounting Standards Board’s definiti

on? Multiple Choice A company in the business of manufacturing scientific devices recognizes a gain from the sale of agricultural land from the fringes of its corporate campus. A pharmaceutical firm receives an anonymous donation to settle a liability owed to a municipality. A web streaming company fulfills a 12-month service term paid by customers in advance.
Business
1 answer:
sesenic [268]3 years ago
8 0

Answer:

A web streaming company fulfills a 12-month service term paid by customers in advance.

Explanation:

Revenue is recognized from services rendered or goods delivered. It is recognized only when the risk and reward is transferred, further it relates to the normal business of company.

As in the first sentence the company makes scientific devices and it sales an agricultural land, that is sale of fixed asset.

In second case the pharmaceutical company receives donation which is anonymous.

All the things are not revenue for company.

It is only the web streaming company which shall recognize revenue as the services are rendered and revenue shall be recognized related to normal business of company.

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The following data are available for the Phelps Corporation for a recent month: Product A Product B Product C Total Sales $ 150,
mrs_skeptik [129]

Answer:

$277,000

Explanation:

Break even is the point where neither profit nor a loss is made by the company.

<u>Determination of Break-even Sales</u>

Sales - Variable Expenses - Fixed Expenses = 0

Therefore, Solving Algebraically

Sales = Variable Expenses + Fixed Expenses

         = 222,000 + 55,000

         = 277,000

Therefore Break-even sales for the month for the company is closest to $277,000

5 0
3 years ago
Market is a schedule or curve showing the various amounts of a product that producers are willing and able to make available for
Elza [17]

A market supply is a schedule or curve showing the various amounts of a product that producers are willing and able to make available for sale at each possible price during a specific period.

A market demand plan is a table that shows the relationship between price and demand for a particular commodity. To better understand this relationship, many economists plot a timeline of market demand on a graph called a market demand curve.

The demand plan shows that when the price increases, the quantity demanded decreases and vice versa. These points are plotted and the line connecting them is the demand curve. The product downward slope of the demand curve again indicates the law of demand, the inverse relationship between price and quantity demanded.

Learn more about the product at

brainly.com/question/25922327

#SPJ4

3 0
2 years ago
Left, right, center,and justify are types of what
forsale [732]

Answer:

Justified Alignment

Explanation:

The type of text alignment that is frequently seen in newspaper,magazines,and books(both the left and the right sides of the paragraph are perfectly straight).I'm sorry if it was wrong.

brainliest plz ;-;

8 0
3 years ago
MC Qu. 141 Comet Company accumulated... Comet Company accumulated the following account information for the year: Beginning raw
artcher [175]

Answer:

the total factory overhead cost is $11,900

Explanation:

The computation of the total factory overhead cost is shown below:

= Indirect materials cost + Indirect labor cost + Maintenance of factory equipment

= $2,700 + $5,700 + $3,500

= $11,900

Hence the total factory overhead cost is $11,900

The same should be considered and relevant

7 0
3 years ago
In determining basic earnings per share, dividends on nonconvertible cumulative preferred stock should be:a. deducted from net i
DiKsa [7]

Answer:

b. deducted from net income whether declared or not

Explanation:

The formula to compute the basic earning per share is shown below:

Basic earning per share = (Net income - preferred stock dividend) ÷ (weighted average of outstanding shares)

In the case of the non- convertible cumulative preferred stock, the dividend should be paid whether the business earns profit or loss. If the business does not earn any profit during a particular year, in that period the dividend amount is carried forward to next year.

So, the dividend arrears are to be paid to the cumulative preferred stock.

4 0
3 years ago
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