Which of the following is an example of revenue?
A. Cash received from the sale of land for its original selling price
B. Cash received from investors from the sale of common stock
C. Cash received from customers at the time services were provided
D. Cash received as a result of a bank loan
Answer: C
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Product storage time refers to the amount of time that a product spends in a production cell
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Vestal Products Inc had the following information available for 2013: Budgeted sales for 2013 90,000 units Units in beginning inventory (1/1/2013 ) 4,000 units Units produced during 2013 100,000 units Units in ending inventory (12/31/2013 ) 6,000 units How many units should Vestal's 2013 flexible sales budget be based upon?
A) 96,000 units B) 102,000 units C) 98,000 units D) 90,000 units
Isaac holds one ton of perishable fruit in storage for Juice Smoothies Corpo-ration. Juice Smoothies does not pay for the storage. Isaac sells the fruit to Kayo Beverage Company. This sale represents A) a breach of contract
B) a mitigation of damages. C) liquidated damages. D) a quasi contract.
A tort is an interference with someone's person or property
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