Answer:
Allowable Business Expense is $50
Explanation:
The entertainment expenses that were paid before the business deal are allowed business expenses and those entertainment expenses that were incurred after the business deal are disallowed business expenses.
So here, the entertainment expense that includes meal which is worth $100 and is the only allowable business expense here that was incurred before the business deal.
The meal with clients are 50% deductible which means only 50% of the $100 is allowed as business expense.
Allowable Business Expense = $100 * 50% = $50
<h2>
ANSWER:</h2>
Guatemala - 3,348.75 Million Pounds
<h2>
EXPLANATION:</h2>
The US itself just creates 0.008 million metric huge amounts of bananas every year, and vigorously depends on bananas from different nations to help meet its requests for the natural product. These nations whereupon the United States depends are sketched out underneath.
10. Dominican Republic - 9.22 Million Pounds
9. Panama - 50.65 Million Pounds
8. Peru - 61.65 Million Pounds
7. Nicaragua - 87.88 Million Pounds
6. Mexico - 489.25 Million Pounds
5. Colombia - 912.04 Million Pounds
4. Honduras - 1,188.93 Million Pounds
3. Costa Rica - 1,824.69 Million Pounds
2. Ecuador - 1,730.32 Million Pounds I
1. Guatemala - 3,348.75 Million Pounds
Answer:
a. Revenue recognition principle
Explanation:
The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting
It is not recorded when the cash is actually received.
When the sale is made, the same is to be shown in the books of accounts
Therefore as per the GAAP, the revenue should be addressed by revenue recognition
hence, the correct option is a.
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