Revenue should be recognized at the point of sale. Which principle is applied here?
The Realization Principle states that revenue should be recognized (recorded) when it is realized or earned, and when it can be reasonably measured or reliably determined. In the context of a point of sale, revenue is considered realized when a company has completed the delivery of goods or services to the customer, and the customer has accepted those goods or services. This typically occurs at the point of sale when ownership transfers to the customer, and the seller has fulfilled its obligations.
Karan had Rs. 10000 with him. He invested 50% of the sum at 9% p.a. and the rest at 12% p.a., both at simple interest for 2 years each. Find the total i...
A sum when invested at a certain rate of simple interest becomes 3 times itself in 25 years. Find the rate of interest.
Vishal has certain sum of money with him. He invested 80% of the sum in scheme ‘X’ offering 15% p.a. simple interest for 8 years and received Rs. 39...
A sum lent out at simple interest amounts to 6076 in 1 year and 7504 in 4 years. The sum and the rate of interest p.a. are respectively
Meera had Rs. 3500 with her. She invested Rs. ‘c’ at 14% p.a. simple interest for 6 years and the remaining sum at 20% p.a. compound interest, compo...
The simple interest received on a certain sum is Rs. 500 less than the sum invested. If the sum was invested at 12% p.a. for 8 years, then find the simp...
The simple interest earned on 2,400 at a rate of 5% per annum for 3 years is RS x and RS 1,736 is the simple interest earned on RS 6,200 at a rate of 14...
Same amounts are invested in two schemes with 8% interest for 2 years, one scheme at S.I. and another scheme at CI. If he received Rs. 41875.2 after 2 ...
Rs. 8500 is invested in scheme ‘A’ for 2 years and Rs. 6500 is invested in scheme ‘B’ for 2 years. Scheme ‘A’ offers simple interest of 13% ...
Ajay invested Rs.a in SI at 5% rate of interest per annum for 8 years. Vishal invested the same amount in SI at 3% rate of interest per annum for 4 year...
