If bankruptcy were to occur, (secured creditors) would have the first claim on assets.
I hope it helps.
Answer:
A. A surplus of cellular telephones
Explanation:
In the case where the maximum price that are controlled on the cellular telephones so there would be the surplus of cellular telephones as the maximum price are charged from the customers due to which the company is able to generate the high profit that results in the surplus of the cellular telephones and the same would be controlled
Hence, the option b is correct
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Answer:
The correct option is C.
Explanation:
Based on<em> IFRS 15 Revenue from Contracts</em> <em>with Customers:</em>
- a contract is an agreement between two or more parties that creates enforceable rights and obligations.
- revenue is an income arising in the course of an entity's ordinary activities.
The recognition of income arising from the supply of garbage bins and cleaning services is<em> bona fide</em>, since the two services are in the company's ordinary activities.
- When the supply of the garbage bins took place, delivery took place and ownership has been transferred to the client, so Binz Company can recognize the income as earned.
- The contract for 5-year cleaning services has to be recognized over the service year in line with accrual principle in accounting.