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Wittaler [7]
2 years ago
12

The revenue recognition principle guides accountants in​ ________.

Business
1 answer:
Goryan [66]2 years ago
3 0

The revenue recognition principle guides accountants in​ Answer: D determine when to record revenues. The revenue recognition principle lets accountants know when they need to record revenues and at what amount to record. The revenue recognition principle states not to record revenue until it has been earned in full.

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Jones of San Diego sold Long of Baton Rouge a video system with a $6,000 list price. Sale terms were 2/10, n/30 FOB San Diego. J
kkurt [141]

Answer:

$4,835

Explanation:

The computation of the payment made by Long is shown below:

= Sale value of video system - discount + freight charges

where,

Discount = Sale value × discount rate

               = $6,000 × 2%

               = $1,200

The other items  values remain the same

Now put all the values to the above formula,

So, the value would be equal to

= $6,000 - $1,200 + $35

= $4,835

6 0
2 years ago
Which of the following statements is CORRECT? a. The advantage of the basic earning power ratio (BEP) over the return on total a
leonid [27]

Answer: The advantage of the basic earning power ratio (BEP) over the return on total assets for judging a company's operating efficiency is that the BEP does not reflect the effects of debt and taxes

Explanation:

a. This is correct.

The advantage of basic earning power ratio over the return on the total assets for judging a firm's operating efficiency is that the basic earning power does not reflect effects of debt and taxes.

b. This is incorrect.

Only the price/earnings ratio of the company will tell us nothing about a company. When we compare the price/earnings of a company with the peers, we would know whether such company is under valued, or over valued or maybe fairly valued.

c. This is incorrect.

The total assets is made up of total liabilities plus the shareholders equity, when other things are held constant, less debt simply means less liabilities. To balance both sides, the total assets should reduce as the shareholder's equity is constant. When total assets decreases, the return on the assets will increase.

d. This is incorrect.

We can reach a conclusion on which firm is better managed based on the facts given. The debt ratio is the total liabilities divided by total assets, and a lower ratio is known to be good in comparison to a higher ratio. Similarly, the profit margin is the profit divided by the sales, and low profit margin shows high expenses and also a need for the management to decrease the expense.

3 0
2 years ago
Andalus Furniture Company has two manufacturing plants, one at Aynor and another at Spartanburg. The cost in dollars of producin
Bad White [126]

Answer:

9 in Aynor and 31 in Spartanburg

Explanation:

we need to build the following:

    A              B           C

           units    COST

Aynor          9           =93 + 80*B2 + POWER(B2;2)*7

Spartanburg 31           =147 + 20*B2 + POWER(B2;2)*3

             =b2 + b3   = c2 + c3

We stablish that we want to minimize c3

changing cell b2 and b3

with the restriction that must be integer solution and b4 should equal 40

5 0
2 years ago
Choose all the scenarios below that would cause a decrease in the supply of labor in the agricultural industry.
Alika [10]

Answer:

  • b. As the population in the United States ages, fewer workers have the physical ability to work in the industry.
  • d. Due to global warming, working conditions on farms have become undesirable for more and more people.
  • e. The adoption of strict immigration laws reduces the number of legal and illegal immigrants in the United States.
  • h. New machinery is replacing workers in the harvesting of crops.

Explanation:

With workers getting older and being unable to be as productive as they used to be, they will have to drop out of industries that require physical strength including farming. This will therefore reduce people working in agriculture.

With global warming having made working in the fields much more harsh, people are avoiding careers that would keep them outdoors including farming which has led to a drop in the labor supply for agriculture.

A significant portion of workers in agriculture are immigrants so when immigration laws limit the number of immigrants coming in, labor supply in agriculture will reduce.

New machinery reduces the need for workers in agriculture so the more they are bought, the less workers are needed. This will therefore directly reduce the number of people working in agriculture.

7 0
1 year ago
The senior vice presidents at Terra Firma Construction are each responsible for a specific function within the organization. One
Papessa [141]

Answer:

b. scanning the chart vertically

Explanation:

Scanning the charts vertically is the best option for assisting when trying to report to the vice president on their various areas of specializations. In vertical organogram, it helps to represent the line or chain of commands in an organization starting from the least to the most important person in that given organization vertically.

<em>The least would happen to be the new entrant in the organization while the most important would happen to be the CEO or President overseeing all the activities of the said organization.</em>

4 0
2 years ago
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