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
Nastasia [14]
3 years ago
10

Evaluate the extent to which Wal-Mart's previous revenue policy was consistent with the revenue recognition principle.

Business
1 answer:
Kipish [7]3 years ago
4 0

Answer:

Wal-Mart's previous revenue policy was inconsistent with the revenue recognition principle.  It used to recognize revenue when performance obligations have not been met.

Explanation:

In response to SAB 101 issued by the Stock Exchange Commission in 1999, Wal-Mart changed its revenue recognition policy for layaway transactions.  Layaway transactions are those in which Wal-Mart sets aside merchandise for customers who make partial payment.  Before SAB 101, Wal-Mart recognized all revenue on the sale at the-time of the layaway. After the change, Wal-Mart does not recognize revenue until customers satisfy all payment obligations and take possession of the merchandise.

You might be interested in
Refer to exhibit 4-5. if a free market were allowed in the transplanted kidney market, then the equilibrium price would be p2. t
Aneli [31]

Answer:

(q2 - q1)

Explanation:

I have uploaded the picture the question refers to below.

We can see that under a price ceiling of $0, the quantity of kidneys supplied is Q1, and if the price ceiling is removed, and the market is allowed to reach equilibrium, the new quantity of kidneys supplied is Q2, so the increase in the supply of transplanted kidneys can be found by the formula (q2 - q1)

6 0
3 years ago
Walmart sells a bike that cost $100 to a customer for $250 cash. using a perpetual inventory system, the entry to record the sal
hjlf

1. Using a perpetual inventory system, the entry to record the sale for Walmart includes a debit to the <u>Cash account</u><u> </u>and a credit to the <u>Sales Revenue account</u> for $250.

2. The entry to record the cost of the sale under the perpetual inventory system includes a debit to the <u>cost of goods sold</u> and a credit to <u>Inventory</u> for $100.

<h3>What is the perpetual inventory system?</h3>

The perpetual inventory system can be differentiated from the periodic inventory system by the fact that perpetual inventory continuously updates the inventory value without relying on the physical inventory count.

Under this system, the cost of goods sold is <u>debited</u> and the inventory account is <u>credited</u>.

Learn more about the perpetual inventory system at brainly.com/question/25014592

3 0
2 years ago
As part of PSM standards, hazard communication standards require employers who use hazardous chemicals to _____.
dusya [7]
As part of PSM standards, hazards communication standards require employers of different companies who use hazardous, unsafe and life threatening chemicals "to check, evaluate, classify and label each of those chemicals". These standards are developed and established by OSHA (Occupational Safety and Health Organization).
8 0
3 years ago
Which of the following is not a fee that contributes to the initial cost of leasing a car? a. First payment b. Final payment c.
Darya [45]

The final payment is <u><em>not </em></u>a fee that contributes to the original cost of leasing an automobile, option B is the correct answer.

<h3 /><h3>How is leasing charged?</h3>

The first payment is, predictably, the same as one month's rent.

A lender or lessor will impose an acquisition fee to offset the costs of establishing a loan or lease agreement.

A disposition fee, sometimes known as a turn-in fee, is a cost associated with returning a rented vehicle.

Therefore, final payment doesn't contribute to leasing a car.

For more information about leasing, refer below

brainly.com/question/1059164

6 0
2 years ago
Read 2 more answers
Late on summer clothing store managers realize they have many more bathing suits in stock than they can normally expect to sell
nata0808 [166]
They would opt to have a sale of bathing suits. They would offer discount from the original price of the bathing suit. In this way, the suits will be bought because its cheaper than before. 

The store manager should make sure that the discounted price is still higher than the cost of the bathing suits so that they will still generate profit even at a lower value than initially expected.
6 0
3 years ago
Other questions:
  • Realizing that it was time to invest in an updated information system, the CEO made an announcement in his weekly email to his t
    12·1 answer
  • You are an entrepreneur starting a biotechnology firm. If your research is​ successful, the technology can be sold for $ 30$30 m
    12·1 answer
  • Specifying a goal value allows Google Analytics to calculate _______ Revenue per Click Bounce Rate Ecommerce Revenue Average Ord
    10·1 answer
  • In order to prevail in a lawsuit based upon strict liability in tort for personal injuries resulting from the use of a defective
    14·1 answer
  • Adieu Enterprises, based in Toronto, decides to expand into the South American market. To do so, it establishes a separate opera
    11·1 answer
  • F the decrease in the supply of a product is greater than the increase in its demand, _____.
    12·1 answer
  • Kaniper Company has the following items at year-end:Cash in bank: $35,000Petty cash: $500Short-term paper with maturity of 2 mon
    11·1 answer
  • A one-month European call option on a non-dividend-paying stock is currently selling for $1. The stock price is $47, the strike
    12·1 answer
  • The following trial balance was extracted from the books of Kalekeno, a sole trader, at 31st Dec2018:
    14·1 answer
  • The last item on the statement of cash flows prior to the schedule of noncash investing and financing activities reports a.the n
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!