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mr_godi [17]
3 years ago
15

The question of when revenue should be recognized on the income statement according to GAAP is addressed by the:

Business
1 answer:
sleet_krkn [62]3 years ago
4 0

Answer:

a. Revenue recognition principle

Explanation:

The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting

It is not recorded when the cash is actually received.

When the sale is made, the same is to be shown in the books of accounts

Therefore as per the GAAP, the revenue should be addressed by revenue recognition

hence, the correct option is a.

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Answer:

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If the Federal Reserve announces that its target for the federal funds rate is rising from 4 percent to 4.25 percent, how do you
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Answer:

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If banks reduce their loans, their capacity for creating money will also be reduced, lowering the consumption level and investment spending of both workers (households) and private firms.

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Answer:

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To continue,<em> the second-degree price discrimination</em> establishes that companies price products differently based on the preferences of various groups of consumers and furthermore it is very common to <u>apply this type of discrimination through quantity discounts</u> and to add an example, is very common to use this strategy in <u>warehouse retailers such as Costco.</u>

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