The revenue recognition principle:
A) Prescribes that accounting information is based on actual cost.
B) Provides guidance on when a company must recognize revenue.
C) Prescribes that a company report the details behind financial statements that would impact
users' decisions.
D) Prescribes that a company record the expenses it incurred to generate the revenue reported.
E) Means that accounting information reflects a presumption that the business will continue
operating instead of being closed or sold.
B) Provides guidance on when a company must recognize revenue.
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Managers cater to Wall Street (i.e., try to meet earnings benchmarks) for which of the following reasons?
A. To build credibility with the capital market. B. To build the external reputation of management. C. To maintain or increase the firm's stock price. D. All of these are reasons managers cite for meeting earnings benchmarks.
In a job-shop process, processing requirements are different for each product because they ______.
A. contribute to economies of scale in production B. produce unique products in low volumes C. contribute to economies of scope in production D. facilitate continuous production
Which of the following GLOBE cultural dimensions is related to the questionnaire item--“Followers are (should be) expected to obey their leaders without question”?
A. power distance B. uncertainty avoidance C. humane orientation D. institutional collectivism
Why is immigration easier for the highly skilled immigrant?
a. Companies are more willing to offer economic relocation assistance b. They are more likely to have information about employment opportunities c. Highly skilled workers have more disposable income and can visit perspective countries before migrating d. Highly skilled workers have a greater selection of opportunities available to them to choose from