Select the correct statement regarding relevant revenues.     Relevant revenues must not differ between the alternatives being considered.     Past or future revenues may be relevant.     Relevant revenues must make a difference in the decision under consideration.     Revenues are not considered relevant in the same way as relevant costs.

Q: Indicate whether each statement is true or false. 1.a)Information is relevant to a decision problem…

A: Decision making is a process used by the management at the time of selecting among alternative…

Q: When we reduce Total expenses from Revenue , the result is called as ........... a. Cost b. Revenues…

A: Revenues is the total receipts of the business irrespective of the cost incurred. Expenses are the…

Q: S1: Only agency sales and operating expenses determines the sales agency’s profitability. S2: The…

A: S1: Only agency sales and operating expenses determines the sales agency’sprofitability. incorrect…

Q: Explain how the § 179 immediate expensing deduction affects the computation of MACRS cost recovery.

A: Depreciation is defined as the accounting method implemented to allocate the cost of a long-term…

Q: When should a company recognize revenue under GAAP? Multiple Choice When the promised performance…

A: According to generally accepted accounting principles (GAAP), the following two criteria must be…

Q: When it is impossible to determine whether a change is a change in estimate or a change in policy,…

A: As per relevant accounting rules, accounting policy refers to the type of valuation or method a…

Q: what are the meaning of Revenue Enhancement and Cost Saving ? and I need examples for each.

A: Revenue enhancement is the enhancement or increase in the revenue, which also leads to an increase…

Q: The Billing rate/Labor costs ratio is a billing multiple and can be used to evaluate relative…

A: The Billing rate/Labor costs ratio, referred to as the billing multiple, is a financial gauge that…

Q: X-ray any three(3) revenue allocation principles, clearly explaining the benefits and criticisms of…

A: 1. Per Capita Equalization Principle: This principle stipulates that each state or region should…

Q: True or False Question: Costs such as administrative salary expense and interest expense are more…

A: The cost of a product refers to the total amount of expenses incurred to produce or acquire a…

Q: How does an “opportunity cost”,  subtracting from the revenue of an alternate course of action,…

A: Opportunity cost: Opportunity cost is a loss of income from one alternative if another alternative…

Q: For a cost to be relevant to decision-making, it must be:

A: Relevant costs are critical in cost analysis and decision-making because they give a clear picture…

Q: concept tells that to recognize revenue it has to be realized.

A: The revenue recognition concept is one of the most important concepts of accounting. It helps in…

Q: Understand the concept of relevant revenues and costs. What makes a revenue or cost relevant?…

A: solution concept relevant revenue                 relevant revenue means the revenue which has the…

Q: Which of the following statements about a sunk cost is false? Question 11Answer a. It is relevant to…

A: In cost accounting, several type of cost classifications are there. These are like direct costs,…

Q: Revenue Recognization Question. What is the significant difference between the Contract-Based…

A: Revenue recognition is the accounting principle that outlines the conditions under which revenue…

Q: Explain how the § 179 immediate expensing deduction affects the computation of MACRS cost recovery

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: Which of the following statements about the financial risk to providers under different…

A: Risk is the most under capitation.Here's why the reason is:This is accurate that, regardless of…

Q: What is the difference in program revenues and general revenues? Why is that distinction important?

A: Program revenues refer to the revenues that are attributable directly to a specific functional…

Q: Gross margin is included on the income statement under which format(s)? A) B) C) D) Contribution…

A: Gross Margin is included on the income statement under traditional approach.  Gross Margin = Sales -…

Q: Explain how a not for profit determines whether a resource provider is participating in an exchange…

A: The objective of this question is to understand how a not-for-profit organization determines whether…

Q: c. Compare the dollar allocations with those obtained in Problem 6.7. Explain the differences.

A: a.         Here are the allocation rates:                     General Administration…

Q: Which of the following statements is most correct about step costs?  they have the same behaviour…

A: Marginal costing is the one by which the cost of additional unit production is calculated. Under…

Q: What costs should not be considered in a decision making situation? Sunk costs Relevant costs

A: Some costs which cannot be recovered after having been incurred are not considered in decision…

Q: 8. Which of the following is NOT a component of aggregate expenditure? a.Investment b.Consumption…

A: The objective of the question is to identify which among the given options is not a component of…

Q: How is a revenue-recognition abuse related to the percentage of completion method?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: differences between the FASB and GASB

A: Accounting is a practice that helps the business to keep its transactions in legal-mentioned form.…

Q: Plan forfeitures under a defined benefit plan may be allocated to rem manner or go towards reducing…

A: A defined benefit plan refers to the plan which is based around the employer who pays a defined sum…

Q: rationale for recognizing revenue over the life of a contract rather than at a single point in time…

A: Revenue refers to the sum of money generated by an individual or any business entity through its…

Q: Why proponents of LIFO argue that it provides a better match of revenue and e expenses? In what…

A: Introduction:- FIFO and LIFO accounting are inventory management and financial accounting procedures…

Q: How does accounting for permanent differences less complex than is accounting for temporary…

A: Temporary Difference:   A temporary difference is the difference of an income recognized under the…

Q: Explain an example of deferred expense.

A:

Q: responsibility centers have accountability for revenues

A: First option is wrong because although investment center has accountability for revenues, cost…

Q: Provide two inherent risk factors in the revenue cycle and identify the accounts that are likely to…

A: RCM (revenue cycle management) is a procedure used by healthcare systems in the United States and…

Q: deferred revenues

A: Income statement represents the net income that is calculated by deducting the expenses from the…

Q: What is an overbilling and how is it used in percentage - of - completion accounting?

A: In construction and project accounting, overbilling refers to the situation where a contractor…