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
Lunna [17]
3 years ago
15

Which accounting principle states that a company should "record revenues when they provide goods and services to customers"?

Business
1 answer:
3241004551 [841]3 years ago
6 0

Answer:

Revenue recognition

Explanation:

Correct word for the given statement is Revenue recognition

Revenue recognition is a proper accounting rule (GAAP) that distinguishes the particular conditions wherein income is perceived and decides how to represent it. Normally, income is perceived when a basic occasion has happened, and the dollar sum is effectively quantifiable to the organization.

You might be interested in
Padded cloth gloves can protect your hands from what hazards
irga5000 [103]
Electricity 
Construction

6 0
3 years ago
Kopa Company manufactures CH-21 through two processes: Mixing and Packaging. In July, the following costs were incurred. Mixing
Talja [164]

Answer:

mixing WIP 10,000

packaging WIP 28,000

           raw materials inventory  38,000

mixing WIP 8,000

packaging WIP 36,000

           wages payable  44,000

mixing WIP 12,000

packaging WIP 54,000

          Factory overhead 66,000

packaging WIP 21,000

          mixing WIP 21,000

FInished Goods 106,000

       packaging WIP 106,000

Explanation:

the cost for each department are assignet

then we transfer from mising to packing

and finally from packaging to finished goods.

5 0
3 years ago
Adjusting entries are Select one: a. usually required before financial statements are prepared b. not necessary if the accountin
Flauer [41]

Answer:

Correct option is (a)

Explanation:

Adjusting journal entries are passed before financial statements are prepared to so as to confirm if revenue recognition and matching principles are complied with. Adjusting entries are required to be passed if transactions is spread over multiple financial periods. For example, adjusting entry is passed if goods are received this year but payment will be made next year.

Before income statement and balance sheet is prepared, these entries are passed. Thereafter, adjusting trial balance is prepared and finally financial statements are prepared.

4 0
3 years ago
3:Leo's rent is due a few days before he expects to receive his paycheck from work. He takes out a
Lady_Fox [76]

Answer:

I think I think it will be 2:35 or 2:50

4 0
3 years ago
Suppose a monopolist practices perfect price discrimination. It will have A. the same total revenue but sell a larger output tha
andre [41]

A monopolist that practices perfect price discrimination will have a a greater total revenue and sell a greater output than if it were not practicing price discrimination.

A monopolist is a single seller in an industry. The monopolist produces all the output in the industry. A monopolist has a downward sloping demand curve. She also sets the price for her products

Price discrimination is when the same product is sold at different prices to customers in different markets. Perfect price discrimination is when sellers charge each consumer at their reservation price in order to eliminate consumer surplus. Perfect price discrimination encourages consumers to buy more products. This increases quantity sold.

For more information, please check: brainly.com/question/17041384

6 0
3 years ago
Other questions:
  • Travis is employed in a logistics company. How can he best avoid workplace hazards?
    8·2 answers
  • Compare/contrast your personality, traits, skills and abilities with those of a successful entrepreneur.
    5·1 answer
  • Economies of scale are ways that a company can lower the cost per unit by selling more units overall
    12·1 answer
  • Who were the byzantines
    14·2 answers
  • The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1, 25
    13·1 answer
  • Kilbuck Company operates in a lean manufacturing environment. Kilbuck applies conversion costs at a rate of $25 per unit. Kilbuc
    5·2 answers
  • Self-interest helps achieve society's economic goals because as consumers and producers exercise their ____ to act in their own
    11·1 answer
  • As of December 31, year 2, a company has an inventory item that was originally purchased for $80 in year 1. The inventory item w
    11·1 answer
  • Before introducing the results of your survey, you explain in detail how you collected the data and the possible limitations of
    12·1 answer
  • On september 30, 2018, grover began preparing a trial balance worksheet. Which step occurs immediately after he prepares the inc
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!