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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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horsena [70]
The answer is C xddddddddddddddd

6 0
3 years ago
​Valley, Inc. has​ 9,000 shares of preferred stock outstanding. The preferred stock has a​ $90 par​ value, a​ 14% dividend​ rate
EastWind [94]

Answer:

The dividends payout to preferred stockholders is $113,400 as shown below.

Explanation:

The total dividends payable to holders of preferred shares can be computed thus:

Preferred shares dividends=9000*$90*14%

Preferred shares dividends =$113,400

Preferred shareholders have prior claims to dividends ahead of ordinary shareholders,but after bondholders' interest payments have been settled.

The same way they also have precedence in the distribution of company's assets before ordinary shareholders upon the liquidation of the company.

The downside is that they cannot share in excess profits after payment of dividends as they are part-owners of the company unlike ordinary shareholders.

8 0
3 years ago
When the price of a good increases, the quantity demanded ______. when the price of a good decreases, the quantity demanded?
VLD [36.1K]
When the price of a good increases, the quantity demanded decreases. When the price of a good decreases, the quantity demanded increases.
4 0
3 years ago
Funsters, Inc., the largest toy company in the country, sells its most popular doll for $15. It has just learned that its leadin
sukhopar [10]

Answer:

Funsters should increase the supply of its doll now before the other doll hits the market.

Explanation:

6 0
2 years ago
Turnbull Corporation is constructing an office building that it will use in its business. Construction of the building started i
Scorpion4ik [409]

Answer: $12000

Explanation:

The amount of interest should Turnbull include in the cost of the building from the current period will be calculated as the outstanding debt multiplied by the interest rate. This will be:

= $200,000 × 6%

= $200,000 × 6/100

= $200,000 × 0.06

= $12,000

Therefore, the correct option is C.

5 0
3 years ago
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