Question
2.On December 31, 2014, Track Record Inc.'s sales people have firm outstanding orders totaling $1.66 million, which, it has guaranteed its customers, will be fulfilled
2.On December 31, 2014, Track Record Inc.'s sales people have firm outstanding orders totaling $1.66 million, which, it has guaranteed its customers, will be fulfilled during the month of January 2015.
If Track Record includes the $1.66 million in its sales figures for 2014, it will be violating the:
Materiality concept
Historical cost concept
Dual-aspect concept
Realization concept
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The Legal Environment Of Business
Authors: Nancy Kubasek
7th Edition
013354642X, 9780133546422
