Below are five different types of businesses Match the most likely revenue recognition method with each business Grocery store Answer 1Choose When ownership passes to the third party buyer As service is used by the customer Allocated to the different performance obligations Using the percentage of completion method When merchandise is transferred to the customer at check out Electric utility Answer 2Choose When ownership passes to the third party buyer As service is used by the customer Allocated to the different performance obligations Using the percentage of completion method When merchandise is transferred to the customer at check out Building construction company Answer 3Choose When ownership passes to the third party buyer As service is used by the customer Allocated to the different performance obligations Using the percentage of completion method When merchandise is transferred to the customer at check out Software company Answer 4Choose When ownership passes to the third party buyer As service is used by the customer Allocated to the different performance obligations Using the percentage of completion method When merchandise is transferred to the customer at check out Consignment car dealer Answer 5Choose When ownership passes to the third party buyer As service is used by the customer Allocated to the different performance obligations Using the percentage of completion method When merchandise is transferred to the customer at check out

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Posted on Jul 20, 2024

Below are five different types of businesses. Match the most likely revenue recognition method with each business.

Grocery store	Answer 1Choose...When ownership passes to the third-party buyer.As service is used by the customer.Allocated to the different performance obligations.Using the percentage of completion method.When merchandise is transferred to the customer at check out.
Electric utility.	Answer 2Choose...When ownership passes to the third-party buyer.As service is used by the customer.Allocated to the different performance obligations.Using the percentage of completion method.When merchandise is transferred to the customer at check out.
Building construction company.	Answer 3Choose...When ownership passes to the third-party buyer.As service is used by the customer.Allocated to the different performance obligations.Using the percentage of completion method.When merchandise is transferred to the customer at check out.
Software company	Answer 4Choose...When ownership passes to the third-party buyer.As service is used by the customer.Allocated to the different performance obligations.Using the percentage of completion method.When merchandise is transferred to the customer at check out.
Consignment car dealer.	Answer 5Choose...When ownership passes to the third-party buyer.As service is used by the customer.Allocated to the different performance obligations.Using the percentage of completion method.When merchandise is transferred to the customer at check out.