举一反三
- Since the revenue recognition principle requires that revenues be recorded when earned, there are no unearned revenues in accrual accounting. A: 正确 B: 错误
- Since the revenue recognition principle requires that revenues be<br/>recorded when earned, there are no unearned revenues in accrual<br/>accounting. A: True B: False
- Under the accrual basis of accounting, revenues are reported in accounting period when the: A: Cash is received B: Service or goods have been delivered C: Cash is paid D: Expense matches the revenues or is used up
- The matching principle requires that expenses be recorded in the same time period as when the expense actually makes its contribution to revenue. In other words, expense recognition is tied to revenue recognition.
- 中国大学MOOC: The income statement displays revenues earned and expenses incurred over a specified period of time due to earnings activities.
内容
- 0
Translate the following sentence into Chinese. "These two financial statements reflect the accrual basis accounting used by firms to match revenues with the expenses associated with generating those revenues."
- 1
In the case of unearned revenue, the cash is received first, and the revenue is earned later.
- 2
中国大学MOOC: The cash basis of accounting commonly results in financial statements that are less comparable from period to period than the accrual basis of accounting.
- 3
Which of the following transactions would be recorded under accrual accounting but NOT under cash-basis accounting?
- 4
In the case of unearned revenue, the adjusting entry at the end of the period includes a credit to Service Revenue. Assume the unearned revenue is initially recorded as a liability.