Which one of the following is a revenue expenditure?

Q: Which of the following is the impact of agency cost?

A: Agency costs are internal costs incurred due to the competing interests of Shareholder i.e the…

Q: what are the Processes and/or technologies which are or could be incorporated in the expenditure and…

A: Both Revenue and Expenditure cycles are the key components in controlling the cash flows of an…

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: Describe the revenue recognition principle.

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

Q: When should revenue be recognised? Are there exceptions to the general rule?

A: Definition:   The revenue recognition principle: The revenue recognition principle refers to the…

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

A:

Q: What is agency promblem in financial terms?

A: Agency problem is the conflict arises in the interest inherent in any relationship, in which one…

Q: Understand the concept of relevant revenues and costs. What makes a revenue or cost relevant?…

A: solution concept relevant revenue                 relevant revenue means the revenue which has the…

Q: Choice Are revenue expenditures.

A: Extraordinary repairs are repairs that are of high cost and increase the useful life of the asset…

Q: What qualitative and quantitative disclosures arerequired related to revenue recognition?

A: Revenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific…

Q: Explain the current environment regarding revenue recognition.

A:

Q: revenues and expenses

A: The income statement shows the net income or net loss that includes the revenues and expenses of the…

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: what are the concepts of revenue recognition?

A: Definition:   Revenue recognition principle: Revenue recognition principle states that every…

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: What is the criteria to recognize revenue?

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

Q: How is unearned revenue classified on the balance sheet?

A:

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: 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: 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: Distinguish between Service Projects and Revenue Projects?

A: Service Projects: Service projects are those projects which are carried out for the welfare of…

Q: When should DJD recognize revenue

A: The revenues in these type of contracts are based on two types of contracts. 1. Revenues under…

Q: In what way do revenues and expenses differ from each other?

A: The difference between income and expenses is simple: income is the money your business takes in and…

Q: What is an accrued revenue? Provide an example.

A: Revenue refers to the income that is received by a business from its business operations and…

Q: What is a functional expense statement?

A: The answer is explained as follows:

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: What are Revenue Recognition and Matching Principles?

A: Revenue recognition is a Generally Accepted Accounting Principle. It says that organization should…

Q: What type of basis is it called when we report only the amounts actually collected and/or spent?

A: There are two methods of accounting. One is cash basis and other is accrual basis.

Q: capital expenditure or a revenue expenditure.

A: Answer – Capital expenditures are those expenditure which improves the performance of assets and…

Q: What is revenue?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What is Revenue Recognition?

A: The income statement is the one of the financial statements of the business.

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: What are the revenue cycles ( in proper order)

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

Q: appropriation account?

A: Appropriation represents the profit distribution of the company for shareholders and reserves.

Q: Explain the function of the receiving department in the revenue cycle.

A:

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…

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.