Respond to the following:
a. When is revenue generally recognized, and what are three other alternative points in time for recognizing revenue?
b. When is each alternative revenue recognition method appropriate and why have these methods evolved?
c. What is the primary criterion for revenue recognition applied in practice, and what attributes must be measurable before revenue is recognized.
ANSWER:
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According to Warren Bennis
A. the leader initiates, while the manager waits for directives. B. the leader is charismatic, while the manager is a functionary bureaucrat. C. the leader is acclaimed, while the manager is appointed. D. the leader orders, while the managers requests. E. the leader inspires, while the manager controls.
Utilities of information include possession, form, place, access level and time
Indicate whether the statement is true or false
After conducting a one-sample Z-test, you arrived at a value of 0.2 for the z value. What is your conclusion?
a.Reject the null hypothesis b.Accept the null hypothesis c.The result is too close to call d.None of the above
The Ace Construction Company has entered into a contract to widen a street in Boston. The possible payoffs for this project have been determined by management. The probabilities for these payoffs could be determined using a binomial distribution
Indicate whether the statement is true or false