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Q. Explain about revenue recognition principle?
Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of revenue All economic activities undertaken by a company to make revenues are part of the earning process. Several activities may have preceded the actual receipt of cash from a customer including (a) placing advertisements (b) calling on the customer several times (c) submitting samples (d) acquiring or manufacturing goods and (e) selling and delivering goods. For these activities the company acquire costs. Although revenue was in fact being earned by these activities accountants don't recognize revenue until the time of sale because of the requirement that revenue be substantially earned before it is recognized (recorded) this requirement is the earning principle.
The CPSdata to re-estimate the difference among average male and female pay. Use for example, the regression LS LNWAGE C FE a. Can you avoid the hypothesis that mean female
Employees : The view of business organizations exist to maximize the go back to shareholders has been undergoing modify as an outcome of social changes. A broader view is consider
what is the exact meaning of journal that we doing entries??
Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
The salaries paid in 2004 is Rs. 5,00,000; Salaries outstanding is Rs. 20,000; Salaries paid in advance for 2004 is Rs. 30,000. What is the actual salary expenditure for 2004? Wh
Cash Book: It is one of the Subsidiary Book which is usually used by any business organisation to record all the cash transactions which helps to know the cash position as and when
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
Annual interest of 5% paid if balance exceeds 800, $7 monthly fee if account falls below minimum balance, average monthly balance $1,160, account falls below $800 during 5 months
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Hi Team, I want to get an accounting assignment to be done according to NZ university standards. It''s from basic accounting (introduction to accounting). Need to be done by 10th
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