Revenue from sale of product ordinarily is reported as part of earning in the period
A. The planning takes place
B. The sale is made
C. The product is manufactured
D. The cash is collected
Answer: Option B
Solution(By Examveda Team)
Revenue from sale of product ordinarily is reported as part of earning in the period when the sale is made.This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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