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Author Question: Most businesses recognize ____________________ when earned, even if cash has not yet been received. ... (Read 143 times)

neverstopbelieb

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on: Jul 5, 2018
Most businesses recognize ___________________ _ when earned, even if cash has not yet been received.
 Fill in the blank(s) with correct word

Question 2

Jim Catlett establishes a trust that is administered by Mansfield National Bank in the amount of 750,000 . Jim has promised that he will donate an additional 50,000 a year to the trust in each of the next 5 years.
 
  The income from the trust will go to the state university. How much should the university record as income in the year that the trust is established?
  A. 1,000,000.
  B. 750,000 plus the present value of the five 50,000 donations.
  C. 750,000.
  D. 0.


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Ptupou85

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Reply #1 on: Jul 5, 2018
Answer to Question 1

revenue

Answer to Question 2

D


neverstopbelieb

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Reply #2 on: Jul 5, 2018
Thank you


Ptupou85

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Reply #3 on: Jul 5, 2018
No problemo


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