Question
Revenue should be recognized at the point of sale. Which
principle is applied here?ÂSolution
The Realization Principle states that revenue should be recognized (recorded) when it is realized or earned, and when it can be reasonably measured or reliably determined. In the context of a point of sale, revenue is considered realized when a company has completed the delivery of goods or services to the customer, and the customer has accepted those goods or services. This typically occurs at the point of sale when ownership transfers to the customer, and the seller has fulfilled its obligations.
In the question below there are three statements followed by three conclusions I, II and III. You have to take the three given statements to be true ev...
Statements:
Only mango is apple.
No orange is a Peach.
Some Peaches are guavas.
Some guavas are mangoes.
Conclusio...
In the question below some statements are given followed by three conclusions I, II and III. You have to take the given statements to be true even if t...
Statements : Some cities are villages.
No village is a town.
All towns are countries.
Conclusions:I. Some towns being cities is a ...
Statement:
No dress is western.
Only a few westerns are Indians.
All Indians are traditional.
Conclusion:
I. No dress...
In the following question, some conclusions are given and some statements are given you have to take the given conclusions to be true even if they seem...
Three statements are given, followed by three conclusions numbered I, II and III. Assuming the statements to be true, even if they seem to be at varian...
Statement:
At-least some J are K.
Only L are K.
Only M are J.
Few M are N.
Conclusion :
1. Some M are L.
- In the question below some statements are given followed by three conclusions I, II and III. You have to take the given statements to be true even if they ...
Read the given statements and conclusion carefully. Assuming the information given in the statement is true, even if it appears to be at variance with ...
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