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
What precautions does the government take to protect money?
Anestetic [448]

Answer:

Americans piled into the metal as protection from the collapsing value of the dollar. But since the 1970s, the government has enacted a series of laws that have made owning gold more difficult, more costly, and less private.

Explanation:

:D

7 0
3 years ago
The goal of investing $50 per month for the next 12 years for your nephew's college fund is a(n):______goal.
AlladinOne [14]

An investment vehicle known as a mutual fund pools the money of its shareholders and uses it to buy securities like stocks, bonds, money market instruments, and other assets. Professional money managers who specialize in managing mutual funds deploy the assets of the fund to produce capital gains or income for the fund's investors.

The portfolio of a mutual fund is structured and managed to meet the investment objectives stated in the prospectus. Mutual funds provide access to professionally managed portfolios of stocks, bonds, and other securities to small and individual investors. As a result, each shareholder shares in the fund's profits or losses in proportion.

Mutual funds invest in a wide range of securities, and their performance is typically measured by the change in the fund's total market capitalization.

To learn more about mutual fund , click here

brainly.com/question/27988055

#SPJ4

7 0
2 years ago
2. Grocers Absorb Rise in Food Prices to Keep Customers From Straying Dec. 17, 2017 7:00 a.m.
ryzh [129]
Oaowowkwjsjsjma wskmw
8 0
3 years ago
7. List and explain 3 things that make you enthusiastic about learning?
Reptile [31]

Answer:

1) Reward

2) Enjoyment

3) Personality Growth

Explanation:

<u>Learning Business</u>

I opted for Business because it is very easy as compared to other subjects.

It is applicable anywhere anytime.

It is rewarding in terms of  rules and regulations.

<u>Otherwise Learning</u>

It enhances your abilities making you a strong enough person to fight any challenge.

It is always rewarding. It pays you one way or other.

It polishes and nourishes your personality to an extent where you feel better adapted towards life.

It is an enjoyment in the sense that it makes you see how well you use your abilities. For example I like mathematics and I enjoy doing it. Some people like drawing and they enjoy it.

4 0
3 years ago
Bernice is an underwriter. she is reviewing a commercial crime coverage application. the coverage will be written using the disc
Mnenie [13.5K]

Answer:

A retroactive date endorsement

Explanation:

In Insurance, a retroactive date endorsement is used for most claims-made policy forms.

For a claims-made policies, the date which a professional liability coverage begins, covering for any incident that causes damage or harm to a third party on or after the date it occurred, provided the claims relating to it were filed with an active liability insurance coverage, is known as the retroactive date endorsement.

Hence, Bernice should add a retroactive date endorsement to the policy to protect the insurer against liability for such previous losses.

7 0
3 years ago
Read 2 more answers
Other questions:
  • Transactions for Skysong Company for the month of May are presented below. Prepare journal entries for each of these transaction
    12·1 answer
  • The first item appearing on the statement of owner's equity is Select one: a. net income b. the ending balance of owner's equity
    8·1 answer
  • What are the little crowns for?
    7·2 answers
  • If actual output exceeds potential output for a prolonged period of time, we would eventually expect factor prices to:
    5·1 answer
  • Grading at a site refers to
    15·1 answer
  • Substance use/abuse becomes a form of self-soothing when you feel stress or anxious
    5·1 answer
  • Write the multiplier for each increase or decrease of 18%
    7·1 answer
  • Venetian Company has two production departments, Fabricating and Assembling. At a department managers meeting, the controller us
    10·1 answer
  • On May 10, 2020, Cullumber Co. enters into a contract to deliver a product to Greig Inc. on June 15, 2020. Greig agrees to pay t
    5·1 answer
  • What is the effect of import restrictions on prices? They often cause prices to rise steeply and then drop. They cause prices to
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!