Answer:
$30 million
Explanation:
The university collected $45 million for the summer semester which runs from June 1 to July 15 ( a 45 day period).
The revenue recognition principle states that revenue should only be recognized when the earning process has been substantially completed.
Therefore, the university should recognize revenue proportional to the 30 days of June = ($45 million / 45 days) x 30 days = $30 million
Answer:
The correct answer is B
Explanation:
Under the contract law, the cure is defined as the seller who mostly has a limited right to fix or else cure the problem, when the goods or the delivery under the contract fails to accomplish the particular terms of the contract.
When the time for the performance has not expired or lapsed, the seller might cure any kind of the non- conformity. So, the cure happen or occur when the seller ships the conforming goods to the buyer in order to replace the prior tender which is non- conforming.
The prices become higher when a desirable item is auctioned because the demand of the item rises when more people want it and only one person can get it. When this happens the price will rise immensely because the buyer wants it more than the other people so they bid higher to win the auction.
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