On January 1, SaLow Company enters into a contract to provide custom-made equipment to ByHi Corporation for $100,000. The contract terms allow cancellation without penalty by either party at any time prior to delivery of the goods. The contract specifies a delivery date of March 15 but the equipment was not delivered until April 10. The contract required full payment within 30 days after
delivery. When should revenue be recognized for this contract?
A) Never, because it includes a termination agreement.
B) March 15
C) April 10
D) May 10
C
You might also like to view...
Which of the following is the least effective and efficient management of IM?
A) Sending an email message instead of immediately answering an IM B) Being available to IM at all times while at work C) Not sending confidential information over an IM D) Not using IM to send personal messages while at work E) Not using IM for important but impromptu meetings if everyone is not available
Various laws and contracts govern the rights and obligations of a shareholder. Which of the following is true?
a. Each type of capital stock has its own provisions on voting matters, only. b. Each type of capital stock has its own provisions on sharing in earnings matters, only. c. Each type of capital stock has its own provisions on distributing assets generated by earnings matters, only. d. Each type of capital stock has its own provisions on sharing in assets in case of dissolution of the firm.matters, only. e. Each type of capital stock has its own provisions on such matters as voting, sharing in earnings, distributing assets generated by earnings, and sharing in assets in case of dissolution of the firm. .
A leader who is high in ________ is more likely to be able to develop and support the creative activities of his or her team members.
A. expectancy B. transformational leadership C. emotional intelligence D. transactional leadership E. conformity
Mass customization is often associated with ___________ processes.
What will be an ideal response?