What is the justification for the following deviations from recognizing revenue at the time of sale? (a)
Question:
What is the justification for the following deviations from recognizing revenue at the time of sale?
(a) Installment sales method of recognizing revenue.
(b) Recognition of revenue at completion of production for certain agricultural products.
(c) The percentage-of-completion basis in long-term construction contracts.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Each deviation depends on either the existence of earlier objective evidence other than the sale or insufficient evidence of sale Objective evidence i...View the full answer
Answered By
Biplob Ganguli
I have 23 years of teaching experience , for last eight years I am working as Principal of a CBSE school in India. Every moment our mind is affected by thoughts these thoughts should convert to some value in terms of money for livelihood this is the first step of learning, How to think the proper way without getting distracted & move ahead in small steps a teacher a mentor can do that help to the pupil. Students should be taught that there is no shortcuts to reach your goals, there could be some quick tricks in some steps in life & to reach to your goal you need to pass through all the steps.
Knowledge is dynamic what we know now was not known to our ancestors. After getting success in solving a problem we find the next problem is in line waiting to be solved, life is not only problems & solutions. Through out the life span we keep on solving the issues, is that all for which we are here, I induct this question to all my students along with achieving livelihood.
Firstly I begin with solutions to Math problems for my students..... .....
How to think? ? ?
Get online with me I shall share my experiences.
0 Reviews
10+ Question Solved
Related Book For 
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
