When is revenue from the sale of merchandise normally recognized?
a. On the date the sale is made.
b. When the customer pays for the merchandise.
c. Either on the date on which the sale occurs, or the date on which the customer pays
d. When the merchandise is sold, if sold for cash, or when payment is received, if sold on credit
a
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Describe the three marketing orientations
What will be an ideal response?
A forward exchange contract
A) gives the owner the right to purchase a foreign currency at some point in the future and any gains or losses are credited/debited to the account at the close of business each day. B) requires delivery, at a specified future date, of one currency for a specified amount of another currency. C) gives the owner the right, but not the obligation, to buy a foreign currency at a fixed exchange rate for a fixed period of time. D) requires delivery, within two working days, of one currency for a specified amount of another currency.
Tippees: A) are people who get information from corporate insiders
B) are relatives of corporate directors who are given nonpublic information. C) can be liable under section 10(b). D) All of the above
On January 1, Year 1, Jack Incorporated borrows $38,000 to purchase a new company car by agreeing to a 6%, 5-year note with the bank. Payments of $734.65 are due at the end of each month with the first installment due on January 31, Year 1. What are the amounts of interest and principal, respectively, that will be paid in the first month?
A. $2,280.00 and $544.65 B. $190.00 and $734.65 C. $190.00 and $544.65 D. $544.65 and $190.00