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The realization principle states that revenue should be recognized or recorded when goods or services have been delivered to the customer and the company can reasonably expect to receive payment for those goods or services. In other words, revenue is recognized when there is an earning process completed, and there is a reasonable assurance of payment. Therefore, option c, "When goods have been delivered," is the correct answer as per the realization principle.
An economist calculated the cross-price elasticity of demand for nicknacks and gizmos and got -0.5. What can she conclude about the relationsh...
A sample poll of 100 voters reveals the following information about candidates A, B and C who are nominated for 3 different offices:
Type II error occurs when
In a small open economy with a floating exchange rate, the supply of real money balances is fixed and a rise in government spending ______
A worker’s wage in 1996 was Rs.180. What should be the wage in 1999 so that the worker remains at the same level of consumption? [Consider 1995 as the...
In the standard IS-LM model, an increase in Government spending (G) without changing taxes has
Which of the following demand functions has unitary elasticity everywhere?
What is the tenor of the Sovereign Gold Bond (SGB) bond, and when is early encashment/redemption allowed?
Knife edge problem is associated with the following growth models?
Which of the following is not an instrument of Monetary Policy?