Question Details

Which of the following is not a time when revenue may be recognized 



1.	Valuing assets at their liquidation values rather than their cost is inconsistent with the
a.	periodicity assumption.
b.	matching principle.
c.	materiality constraint.
d.	historical cost principle.
	2.	Revenue is generally recognized when a sale occurs. This statement describes the
a.	consistency characteristic.
b.	matching principle.
c.	revenue recognition principle.
d.	relevance characteristic.
	3.	Generally, revenue from sales should be recognized at a point when
a.	management decides it is appropriate to do so.
b.	the product is available for sale to the ultimate consumer.
c.	the entire amount receivable has been collected from the customer and there remains no further warranty liability.
d.	none of these.
	4.	Revenue generally should be recognized
a.	at the end of production.
b.	at the time of cash collection.
c.	when realized.
d.	when a sale occurs.
	5.	Which of the following is not a time when revenue may be recognized ?
a.	At time of sale
b.	At receipt of cash
c.	During production
d.	All of these are possible times of revenue recognition.




Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help