Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the revenue recognition principle: a) companies sh

The revenue recognition principle: a) Companies should account for the revenue when the obligations are...

90.2K

Verified Solution

Question

Accounting

The revenue recognition principle:

a) Companies should account for the revenue when the obligations are partly fulfilled.

b) The revenue is accrued when it is probable that the payment will not be received.

c) Sales are accounted as soon as the sales contract is approved and signed by both parties.

d) Companies account for the revenue when they transfer goods or services to the customer.

e) Revenue is accounted independently from when the cash is paid.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Use the standard normal table to find the​ z-score that corresponds to the given percentile. If...

Statistics
Q

Equilibrium constants at 25 ?C are listed in the table below. Substance Kc Value of Kc CaCO3 Ksp 4.5

Chemistry
Q

A team of three workers namely Aziz, Ambiga, and Ah Meng work for Zig Zag Timber...

General Management
Q

A market failure occurs when O a retailer cannot fill consumer demand with product on...

Basic Math
Q

A 15m 58 N B161 18m C In the diagram three points A B and...

Basic Math
Q

Jumandia At What do you think was the main issue in this case? If you...

Accounting
Q

Brad Treehouse has insurance with a $1000 deductible then covers at 80/20. If he has...

Accounting
Q

! Required Information [The following information applies to the questions displayed below.] Following...

Accounting
Q

Brecker Inc., a greeting card company, had the following statements prepared as of December 31,...

Accounting
Q

You work for a small accounting firm in Halifax and are filling in as a...

Accounting
Q

PLEASE SHOW ALL CALCULATIONS IN DETAIL!!! Thank you! Marvel Parts, Inc., manufactures auto accessories. One...

Accounting
Q

assume that you inv. $8,000 in stock C, $12,000 in stock D Q1:...

Finance