13.) A term that refers to a situation where the revenue function is equal to the cost function.

Q: What is concept of unearned revenue?

A: When a amount is received in advance for a service or goods and as on reporting date such service is…

Q: What is a performance obligation, and how is it used todetermine when revenue should be recognized?

A: The performance obligation is the promise made by the business entity to provide the goods or…

Q: What is the two criteria be satisfied before revenue can be recognized?

A: Revenue recognition principle:    Under the revenue recognition principle, revenue and incurrence of…

Q: Describe the revenue recognition principle.

A: Definition:   Accrued revenue: Accrued revenue refers to the revenues that are generated from the…

Q: Explain the income & expenditure and Receipts & payment? Draw the format with example? What is the…

A: Income and Expenditure Account: Its a summary of all incomes and expenditures of current accounting…

Q: Explain the components of non operating income.

A: Non Operating Income is that part of an organisation's income that is obtained from activities not…

Q: 1. How much is the gross profit? 2. How much is the administrative expense?

A: Gross profit is computed after deducting all operating expenses from the sales. The operating…

Q: Distinguish between the stand-alone and the incremental revenue-allocation methods.

A:

Q: 7. Discuss the difference between production items, expense items, and capital items.

A: In order to understand the difference between the three we need to understand the nature of these…

Q: 1. What is the difference between accounting anc economic profit?

A: Solution Note as per the Q&A guideline we are required to answer the first question only. Please…

Q: Explain the revenue recognition principle.

A: Accounting principle:

Q: Describe the steps to apply Core Revenue Recognition Principle.

A: Revenue recognition principle: Revenue recognition principle refers to the revenue that should be…

Q: Define the term unearned revenue.

A: Deferred revenues: Deferred revenue is a liability to render service or to deliver products in…

Q: Discuss the fundamental concepts related to revenue recognition and measurement.

A: Revenue Recognition: Revenue recognition is a Generally accepted accounting principle that tells…

Q: Define the term revenue expenditure.

A: Fixed Assets:   It refers to the long-term assets having a useful life of more than a year which…

Q: What is the revenue project?

A: Revenue refers to the income generated by the company by performing certain operations or business…

Q: Define the term revenue recognition.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: How does Dropbox apply GAAP to revenue recognition? Explain and give examples.

A: Generally Accepted Accounting(GAAP) GAAP are a set of rules the encompass the details, complexities…

Q: How to calculate revenue?

A: Money earned by selling products produced or purchased is called sales revenue. Ideally revenue is…

Q: A term that refers to a situation where the revenue function is equal to the cost function.

A: Revenue function and cost function are two important terms used in cost volume profit analysis. The…

Q: What is the criteria to recognize revenue?

A: Introduction: Taxes, customs charges, earnings from state-owned firms, capital revenues, and foreign…

Q: revenue and the expenditure cycle can be viewed as having two key parts

A: Revenue cycle involves sale of goods and expenditure cycle involves purchase of goods.

Q: What is the revenue recognition principle?

A:

Q: Describe the Fundamental Issues Related to Recognizing Revenue.

A: Revenue Recognition: Revenue recognition refers to the principle which tells about the conditions…

Q: Explain of two key levers- revenue and expenditure.

A: For any business to sustain and grow, there are five main levers that drives it. These levers…

Q: How does EVA differ from accounting profit?

A: Introduction: Economic value added is the sum of net earnings over capital costs. EVA corresponds to…

Q: Understand the fundamental concepts related to revenue recognition and measurement.

A: Revenue Recognition: Revenue recognition is a Generally accepted accounting principle that tells…

Q: Why does Recognizee revenue when (or as) each performance obligation is satisfied,” is important?

A: Performance obligations are promises to transfer goods or services to a customer. In a transaction…

Q: How do you calculate the breakeven point in revenues?

A: Break-even point is the level at which profit is zero; that is, at the Break-even level, expenses…

Q: Define the term Income Smoothing.

A: Income Smoothing: It is an accounting technique which is used to move revenues and expenses of one…

Q: Define Core Revenue Recognition Principle.

A: The core principle of revenue recognition standard is that an entity should recognize revenue to…

Q: What function does the receiving department serve in the revenue cycle?

A:

Q: What is Physical Systems of Revenue Cycle?

A: Revenue cycle           Revenue cycle are divided into two              a. physical phase…

Q: Differentiate the Revenue Cycle and Expenditure cycle

A: The processes of the business are divided into different accounting cycles. The revenue cycle,…

Q: Name the major subsystems of the revenue cycle.

A: Revenue cycle refers to tracking a revenue transaction from its beginning to end i.e. from receiving…

Q: What is the gross profit? | Select) How much is the operating expense? [ Select ] | Select) How much…

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: What are the revenue credits? Give an example?

A: Meaning of Revenue Credit:Revenue Credit refers to the payments received in advance for services…

Q: Define Revenue

A: The revenue is reported on the income statement of the company, and it is used to derive the net…

Q: What are the revenue cycles ( in proper order)

A: Introduction:- Revenue cycles normally starts from receiving order from consumers or entering in…

Q: Which one of the following is a revenue expenditure?

A: Revenue expenditure: It refers to the amount spent on normal maintenance and repairs of fixed assets…

Q: what is the revenue and gross profit

A: Revenue is the amount or income which has been earned during particular period of time. Gross profit…

Q: What are the two most often used ways of accounting for revenue from by-products?

A: When the manufacturing entity is engaged in manufacturing the main product which is the main source…