Multiple Choice Question
The concept or principle that states that companies should recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for goods and services is referred to as the:
- Realization principle
- Step 5 of the revenue recognition principle
- Core revenue recognition principle
- Matching principle
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Multiple Choice Question The concept or principle that states that companies should recognize revenue when goods or services are ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Explain how unions gained the right to collective bargaining
Answers (1)
You want to create a purchase order for a valuated material. which views in the material master record must be available as a minimum?
No Answers
Common stock, $10 par value (50,000 shares outstanding) $ 500,000 Preferred stock, 6% cumulative, $100 par value, 3,000 shares outstanding 300,000 Additional paid in capital 200,000 Retained earnings 500,000 Total stockholders' equity $ 1,500,000
Answers (1)
In Porter's Five Forces model, conditions under which a supplier group can be powerful include all the following except: A) lack of importance of the buyer to the supplier group. B) high differentiation by the supplier.
Answers (1)
When selecting the best checking account, you should consider 1) minimum balance, fees, and interest 2) fees, color of the checks, and bank's hours 3) how long it takes to open the account if they will reconcile your checkbook for you
Answers (1)
New Questions in Business
Under the mudarabah banking system, when an Islamic bank lends money to a business Multiple Choice it charges that business interest on the loan. the business needs to pay back the loan with an additional markup.
Answers (1)
A company's bonds have a 10-year maturity, a 6% coupon paid semi-annually, and a par value of $1,000. The yield to maturity is quoted as 8% in the financial press. What is the bond's price?
Answers (1)
Buckman Company uses the weighted average method for process costing. The cost per equivalent unit for direct materials is $5.00. The cost per equivalent unit for conversion costs is $3.00. The company completed and transferred out is 40,000 units.
Answers (1)
Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting? A. Paying off loans B. Purchasing inventory on account C. Collecting customer payments D. Borrowing money
Answers (2)
Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when A. A royalty contract with a distribution in which the consideration to be received depends on sales to end customers. B.
Answers (1)