Choice Are revenue expenditures.

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: Describe how revenue recognition relates to transferring goods or services.

A: Revenue:   It refers to the earnings of an enterprise from their normal business operations for a…

Q: Which of the following are recognized in other comprehensive income?       service cost

A: The other comprehensive income includes the revenues and expenses of the company. The assets and…

Q: How is a gain contingency reported?

A: Gain contingencies: The excess of book value over the amount to be received is actually gain…

Q: Distinguish between program service expenses and supporting service expenses.

A: A nonprofit organization’s expenses can be classified into two types, they are expenses for program…

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: Explain the term byproduct.

A: A byproduct is a product that is also termed as the incidental product is generated during the…

Q: What is the authoritative literature addressing revenue recognition when right of return exists?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: hat does the term "miscellaneous expenditure" mean?

A: Miscellaneous Expenditure: These are the expenditure that are allowances for government services,…

Q: Define Miscellaneous expense.

A: Step 1 Expense is the amount incurred by the organization to generate revenue. It is shown in the…

Q: Define Unearned revenue

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

Q: What is a deferred revenue? Provide an example.

A: Deferred revenue: Deferred revenues are revenues related to more than one period.  A deferred…

Q: Distinguish between tangible and intangible benefits.

A:

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: give the definition, recognition, measurement and derecognition of "borrowing cost"

A: A uniform group of principles, standards, and procedures that explain the basic financial accounting…

Q: Describe the decisions about expenditure?

A: Expenditure:   It is the money spent by the organization to purchase or increase the value of their…

Q: How do unearned revenues arise?

A:

Q: differences between the FASB and GASB

A: Accounting is a practice that helps the business to keep its transactions in legal-mentioned form.…

Q: What is the effective utilization of funds

A: Introduction: While all aspects of money planning are critical, special emphasis is placed on fund…

Q: Describe the Fundamental Issues Related to Recognizing Revenue.

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

Q: Which type of revenue activity is correctly matched with the revenue recognition method?

A: The question is related with the revenue activity is correctly matched with the revenue recognition…

Q: Which one of the following equations will yield the available balance in an expenditure subsidiary…

A: GASB: The GASB is the board that provides the guideline to the governmental units about proper…

Q: Identify one similarity and one difference between revenues and gains. Why is this distinction…

A: Revenues are the total inflows of cash, receivables and other considerations arising from the…

Q: Explain what is meant by the phrase matched with revenues

A: The term matched with revenues means to recognize expenses in the same period as the related…

Q: deferred revenues

A: Income statement represents the net income that is calculated by deducting the expenses from the…

Q: Describe the steps of Special Issues in Revenue Recognition.

A: Revenue recognition refers to principle of accounting which specifies revenue 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: Explain Deferred Revenue? How it is different from Deferred Expenditures? Give an example?

A: Explain the meaning of deferred revenue and provide example:Deferred revenues:Collection of cash in…

Q: relevant (differential) revenues and relevant (differential) costs

A: Relevant revenues and relevant costs are two terms used in evaluating the acceptance of special…