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Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik
Edition 12ISBN: 978-0077862220Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik
Edition 12ISBN: 978-0077862220 Exercise 14
In problem (12), which of the following statements is true about reporting a revenue
a. A revenue will be reported.
b. Revenue is reported but only if the asset is reported.
c. If the asset is not capitalized, no revenue should be recognized.
d. As a gift, no revenue would ever be reported.
a. A revenue will be reported.
b. Revenue is reported but only if the asset is reported.
c. If the asset is not capitalized, no revenue should be recognized.
d. As a gift, no revenue would ever be reported.
Explanation
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Since the gift received by the City of W...
Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik
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