The rule that (1) requires revenue to be recognized when goods or services are provided to customers and (2) at the amount expected to be received from the customer is called the:
A. Measurement (Cost) principle.
B. Going-concern assumption.
C. Revenue recognition principle.
D. Business entity assumption.
E. Objectivity principle.
Answer: C
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A secondary purpose of business messages is to promote ________ so that you and your organization look good in the eyes of your audience
Fill in the blank(s) with correct word
The ethical theory of intuitionism proposes that:
a. the power of an individual to assess the rightness or wrongness of decisions is as basic to human beings as the instinct for survival. b. market outcomes should be the basis for distributing goods. c. the "veil of ignorance" should be developed to consider the needs and rights of all society's members. d. society should stress equality of opportunity, not results.
In the Keser v. Chagnon case, the Colorado court found that disaffirmance two months after reaching majority was within a reasonable time and that, since Chagnon had obtained the contract by false representation of his age, he could not recover his full consideration upon disaffirmance
a. True b. False Indicate whether the statement is true or false
______________________________systems may also serve to accelerate payments when customers log on to a biller's Web site to obtain information about a bill, get errors corrected, and resolve disputes, leading to a more timely payment.
Fill in the blank(s) with the appropriate word(s).