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Earn +20 ptsQ: An example of deferred revenue is unearned rent True or false?
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The revenue recognition principle dictates that companies recognize revenue in the period in which it was received rather than when it was earned- True or False?
false
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
the excess of revenue over the expenses incurred in earning the revenue is called capital?
False
True or false revenue is a decrease in owners equity?
False, as revenue increases the owners equity if expenses are less than revenues and vice versa.
When a business incorporates it receives articles of incorporation from the Internal Revenue Service. is this true or false?
False
Related questions
The revenue recognition principle dictates that companies recognize revenue in the period in which it was received rather than when it was earned- True or False?
false
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
the excess of revenue over the expenses incurred in earning the revenue is called capital?
False
True or false revenue is a decrease in owners equity?
False, as revenue increases the owners equity if expenses are less than revenues and vice versa.
The activity variance for revenue is unfavorable if the actual revenue for the period is less than the revenue in the static planning budget true or false?
true
When a business incorporates it receives articles of incorporation from the Internal Revenue Service. is this true or false?
False
A revenue variance is unfavorable if the actual revenue is less than what the revenue should have been for the actual level of activity for the period true or false?
TRUE
Withdraws decrease owner's equity and are listed on the income statement as a deduction from revenue True or False?
False
A nazard true or false-accrual convention is when the revenue earned for a particular period is added to the expenses involved in making the revenue in that period-accounting?
It is false. The right answer is ,the revenue is matched with expenses involved in making the revenues in that period.\the difference will produce a profit or loss.
Do revenue and expenses should be recorded in the same period to which they relate?
false
True or false revenue and cash will always be the same amount?
TURE
True or False The Federal income tax on corpoations generates more revenue than the Federal income tax on individuals?
false
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