The condition for which revenues are recognized even when the cash is collected in a different accounting period is;
- Services are provided even if cash has not yet been collected, in cases of accrual basis accounting
<h3>Revenue recognition</h3>
Two major forms of revenue recognition exist;
- When Cash is collected from customers. This is the case when the organisation uses cash basis accounting
- When services are provided even if cash has not yet been collected. This is the case when the organisation used accrual basis accounting
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brainly.com/question/26274038
Answer: Of the world economy towards becoming a more interdependent
system.
Explanation: The process under which the government, people and companies of different nations are coming together to make the world a better place for business is called globalization. Under globalization various tax and tariffs are lowered down by different countries for ease of business and free flow of goods and services making the world interdependent.
Answer:
D- Terminated
Explanation
The original offer is terminated and a new offer is formed.
Answer:
General Journal Debit Credit
1 Cash 2600
Unearned revenue 2600
(To record gift cards sold)
2 Unearned revenue 832
Sales tax payable 32
Sales revenue 800
(To record gift cards redeemed)
Answer:
= 0.008
Explanation:
Base on the scenario been described in the question , to develop a p-chart, first calculate as shown below:
P bar= total number of defective units from all samples /(number of samples ×sample size)
= 100/(12×1000)
= 100/12000
= 0.008
Thus, the p bar is 0.008
