The answer to this question is the term which we commonly heard as "PLATFORM". Hence when the main advantage of enterprise resource planning (ERP) is that it describes a PLATFORM that ensures connectivity and easy integration of future systems including in-house software and the commercial packages. In this case, the analyst must consider the architecture of the system.
To answer questions regarding the professional engineers<span> act, one must refer to The Professional Engineers Act and the Board Rules. The Professional Engineers Act and the Board Rules </span>contain the laws, rules, and regulations regarding the practice of professional engineering. They can be used for take home examination.<span> </span>
Based on the information given, the amount that will be recognized as unrestricted revenue in each of the years will be $100,000 and $900,000.
Unrestricted revenue simply means the donations that can be used by a company or group for purposes that meet the goals that were set aside.
From the information, the unrestricted revenue in June 30, 2020 will be:
= 10% × $1,000,000
= $100,000
The unrestricted revenue for June 30, 2021 will be:
= $1,000,000 - $100,000
= $900,000
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The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.
A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.
In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.
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<span>Relationship-specific adaptations are usually not required when the buying organization uses outsourcing.
False</span>