Answer: True .
Explanation:
In accrual accounting, revenue is entered when it is earned and expenses are entered when they are incurred.
Deferred revenue is money received by a company in advance of having earned it. In other words, deferred revenues are not yet revenues and therefore cannot yet be reported on the income statement.
As a result, the unearned amount must be deferred to the company's balance sheet where it will be reported as a liability.
When your company receives a customer deposit or prepayment on a sale, that payment occurs in advance of the actual sale and is therefore considered unearned revenue. Deferred revenue flows between the balance sheet and the income statement as revenue.
Answer:
because sometimes they help us to get some medicine which can be used to cure a particular disease
Answer:
b. Savings accounts
Explanation:
Assets are resources controlled by an entity as a result of past events for which future economic benefits would flow to the entity.
A savings account balance would be reported as cash and cash equivalent under the current assets section of the balance sheet.
Other options given are liabilities.
Answer:
The answer is: PEST Analysis
Explanation:
PEST (Political, Economic, Social, and Technological) Analysis are carried out to determine:
- Political changes such as trade agreements between countries or new trade barriers (current US-China trade dispute)
- Economic factors such as interest rates, exchange rates, inflation rate, and consumer confidence
- Social factors such as population shifts, changing attitudes and lifestyles
- Technological factors such as scientific advances, new materials, R & D, new technologies (internet)
