D. Unearned gift certificates revenue

Q: Define Refund Liability.

A: Refund liability: When a company sells its products with a right of return to customers it has to…

Q: What is the purpose of an allowance for uncollectibles and why is it important?

A: Accounts receivable is the current asset and the amount that is not received yet from the customer…

Q: Describe how revenue recognition relates to transferring goods or services.

A: Revenue:   It refers to the earnings of an enterprise from their normal business operations for a…

Q: Difference between sales receipts and invoices

A:

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: Explain the importance of a contract in the revenue recognitionprocess.

A:

Q: er type of account name for gift card lia

A: Gift card liability refers to the concept that reflects that the company has the obligation to…

Q: Define Sale of Receivables.

A: Sales: A sale refers to the operating activity through which the company earns income by selling…

Q: Define Purchase discounts.

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: What items are listed on a loan document

A: There are various kinds of loans that an individual can take from a bank or a financial institution.…

Q: What is accured expenses with example

A: Definition: Expenses: Expenses are costs incurred for the operations of a business. The costs…

Q: Explain the revenue recognition principle.

A: Accounting principle:

Q: Define promissory note. Who are the original parties to a promissory note?

A: A promissory note is a valid, financial instrument in which one party guarantees another to settle…

Q: When is revenue recognized with respect to licenses?

A: In case of Licences, revenue is recognised in two ways depending on the type of transaction. If the…

Q: What is purchase returns?

A:

Q: Difference between a debit and a credit.

A: Debit and credit are the two aspects of a transaction and a ledger account. The short form used for…

Q: Ethics of accruals and deferrals.

A: Lets understand the meaning of accrual and deferrals. Accrual is a recording income and expense in…

Q: Define Deferred Payments.

A: Liabilities:   Liabilities are referred to as the obligation of the business towards the creditors…

Q: 2. Differentiate pledging, assignment and factoring of receivable,

A: The receivables are referred to as the current assets of the company. These are the amounts that a…

Q: punts receivable ipment umulated deprec tes payable

A: particulars amount particulars amount To rent expenses $45000 By service fee earned $177500 To…

Q: Matching Principle Concept How does interest expense associate with revenue?

A: The matching principle is a fundamental concept in accounting that dictates that expenses should be…

Q: What is invoice discounting and what are the advantages

A: Introduction: Discounting is nothing but financial process in which in exchange for a fee, a debtor…

Q: 9. Documents of credit appraisal for invididual loan?

A: Credit appraisal is the process of assessing the credit worthiness of the loan applicant.

Q: receipt of a performance bond or a security deposit id credited to

A: Performance bond and security deposit are amount received which have to be refunded upon fulfillment…

Q: What is a promissory note, and what are some terms that arenormally included in promissory notes?

A: SOLUTION:- A promissory note is a instrument where one person or party promises(the note's issuer)…

Q: What is a promissory note, and what terms are normally included in promissorynotes?

A: A document or agreement that promises the payment of a specific sum of money at a later date to the…

Q: What is meant by a promissory note?

A: The amount due to be paid for loan can be promissed by customer by issuing promissory note.