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Marina CMI [18]
3 years ago
9

If consideration is received before a contract is identified and the consideration is nonrefundable, revenue may be recognized i

f:
Business
1 answer:
Studentka2010 [4]3 years ago
3 0

Answer: Any of these answer choice is correct.

Explanation:

You didn't put the options to the question. The options are:

• There is no remaining obligation to transactions goods.

• The contract has been terminated.

• Goods have been delivered.

• Any of these answer choice is correct.

When consideration has been received before a contract is identified and the consideration is nonrefundable, then the revenue may be recognized when:

• There is no remaining obligation to transactions goods.

• The contract has been terminated.

• Goods have been delivered

Therefore, the correct option is any of the answer choice is correct.

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In September 20X3, LaToya Corporation paid for insurance for the next six months in the amount of $42,000. On December 31, LaToy
Umnica [9.8K]

Answer:

Net income is overstated by $28,000.

Explanation:

As the company forget to make the adjustment entry it didn't recognize any expense for the expired insurance.

From September to December 31th 4 month of insurance has expired:

42,000 x 4 month/6 months = 28,000 insurance expense

as the expense weren't post the income statement is overstated along with the assets of the company as it doesn't have a prepaid amount for 42,000 but for 14,000

5 0
3 years ago
Refer to Scenario 1.1. The customers of Green Hills Cemeteries are most likely choosing the Green Hills business because of its
scoray [572]

Answer:Environmental consciousness; market orientation

Explanation:

Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products that satisfy them.

Environmental consciousness on the other hand is showing conscience for the environment.

3 0
3 years ago
In Vintland, sanitation engineers are being replaced with garbage robots, which have fewer negative effects and many more signif
pychu [463]

Answer: GDP decreases and standard of living increases

Explanation:

Based on the information given, the short-run effects of this industrial change on Vintland's GDP and its standard of living is that there'll be a reduction in the gross domestic product and an increase in the standard of living.

The reduction in GDP will be as a result of the reduction in the price of collecting garbage. On the other hand, the replacement of the sanitation engineers with the garbage robots will have fewer negative effects and many more significant benefits, thereby increasing standard of living.

3 0
3 years ago
Sheridan Co. incurred research and development costs in 2021 as follows: Materials used in research and development projects $ 9
Gekata [30.6K]

Answer: c. $2,526,666.

Explanation:

When calculating amount of research and development costs charged to Sheridan for 2021, the concern should be for period costs i.e, costs that are incurred for 2021 alone. Therefore the Equipment cost cannot be put here because as an Asset it was purchased for future use and so cannot be just for 2021.

The costs therefore are all of the above EXCEPT cost.

= Materials + Depreciation + Personnel Costs + Consulting fees + Indirect Costs

= 915,000 + 441,666 + 715,000 + 265,000 + 190,000

= $2,526,666

Correct answer is Option C

7 0
3 years ago
How does the analysis from the supplier position and supplier preferencing models affect how a purchasing manager plans to do bu
Dmitry_Shevchenko [17]

Explanation:

The analysis of the supplier's position and the supplier's preference models affect how a purchasing manager plans to do business with suppliers in the sense that, through these models, purchasing managers obtain more information to analyze their preferences, that is, it is a tool that allows purchasing managers to choose the ideal supplier according to their essential criteria, it is possible to choose a supplier based on market reputation, quality, price, etc., making the supplier decision making process more aligned to the purposes and organizational goals and more effective.

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