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What is revenue productivity?
Its , Revenue earned by the person/total time for the work to be done by the person
Why does marginal revenue curve lie below the Demand curve?
Since Marginal revenue refers to the additional revenue earned by a monopolist by increasing the sale by 1 unit ( usually through lowering the price ), the additional revenue earned will always be less since there has been a drop in price.
What is the money earned by selling goods or services called?
Revenue
Which revenue earned by union government is not distributed among state government?
custom duty
What is realisation concept in financial accounting?
Realization concept is also known as Revenue recognition concept. Under this concept revenue is said to be recognized by the seller when it is earned irrespective of cash received or not.
What could be journal entries for unearned revenue?
Initial receipt of unearned revenue from a customer for service to be provided in the future. Recognition of the unearned revenue as the service is performed and earned. Adjustment entry to reflect the portion of unearned revenue that has now been earned.
What account do earned revenue go in on a balance sheet?
Earned revenue is part of income statement and it is not shown under balance sheet.
What is the equation once unearned revenue has been earned?
[Debit] Unearned revenue [Credit] Sales revenue
What happens to unearned revenue after work done?
Unearned revenue converted to earned revenue after it is done and delivered to customer.
The accounting principle that requires revenue to be reported when earned is the?
revenue recognition
What is revenue productivity?
Its , Revenue earned by the person/total time for the work to be done by the person
What is the difference between operating revenue and non operating revenue?
Operating revenue is that revenue which is earned by basic operating activity of business while non operating profit is earned from other activities like purchases of marketable securities etc.
If the firm's sales revenue income exceeds its expenses the firm has earned a profit?
If a firm's sales revenue exceeds its expenses, the firm has earned a profit.
Unearned revenue account is classified as a?
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
What is difference betweenEarned revenue and unearned revenue?
Earned Revenue = The revenue benefits of which have been provided to customers Unearned Revenue = The amount of which is already received but the corresponding benefits or services have not yet been provided. Example: Amount received to provide repair services next month. So when next month services will be provided that unearned revenue become earned revenue.
What percentage of business revenue is earned by corporations?
500%
The revenue recognition principle dictates that revenue should be recognized in the accounting records?
The revenue recognition principle dictates that revenue should be recognized in the accounting records when it is earned.
