Author Question: The revenue recognition concept states that revenue should be recorded in the same period as the ... (Read 124 times)

bobbie

  • Hero Member
  • *****
  • Posts: 592
The revenue recognition concept states that revenue should be recorded in the same period as the cash is received.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Which statement most accurately describes the use of cash forecasts in government?
 
  a. cash forecasts are not needed because legislatively-approved budgets are sufficient to manage the use of governmental resources
  b. cash forecasts are needed to plan for borrowing and investing because the timing of cash inflows does not necessarily match the timing of cash outflows
  c. cash forecasts are not needed because they do not require the approval of legislative bodies
  d. cash forecasts are needed because they provide the details necessary to support certain approaches to budgeting like performance budgeting



jliusyl

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

False

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

For a complete list of videos, visit our video library