Answer:
Revenue - March = $160
Explanation:
The accrual principle in accounting states that the revenues for a period should match the expenses for that particular period and any revenue or expense should be recorded in the period to which it relates to. This means that the upfront fee received by Fit Co. is a liability and should not be recorded as a revenue until it is earned. So, by providing two sessions in the month of March, Fit Co. has earned revenue for 2 sessions out of the twelve. Thus, at the end of March, Fit Co. should record a revenue of,
Revenue - march = 960 * 2/12 = $160
The answer in the space provided is sales presentation. In
this stage of selling process, it is where a sales representative tries to
determine which the buyers wants and he or she would likely present products
that would make the buyers think or to have a thought of buying the product
that has been offered down to him or her.
Joshua’s compensation in which he is paid with the minimum
hourly rate for his work as a life guard is called salary. A salary is being
given to an employee in which the annual sum in their job are fixed and that
they have a specified amount to the job description given.
This is an Affirming the Consequent argument. It is the name
of an invalid conditional argument form or an invalid form of the modus ponens.
This is easily identified by remembering that any argument
that affirms the consequent is invalid.
