ACC 250 Chapter 3 Flashcards
1
Q
Revenue recognition principle - When is revenue
recorded?
A
(P 98)
2
Q
When is revenue earned?
A
(P 98)
3
Q
What is unearned revenue and when does it happen?
A
(P 99 and 103)
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4
Q
Calculation of earned and unearned revenue?
A
(P 98 and 99)
5
Q
Matching principle?
A
(P 100)
6
Q
Sales on Credit - Accounts Used?
A
(P 104)
7
Q
Net Profit Margin?
A
(P 111 and 112)
8
Q
Components of Net Profit Margin?
A
(P 112)
