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Indicate When Each of the Following Businesses Should Recognize Revenue

Question 87

Essay

Indicate when each of the following businesses should recognize revenue by writing one or more of the following after it: i) on signing contract, ii) when production is complete, iii) on delivery, iv) gradually as goods and services are provided v) after payment.vi) at a later date
A) Fitness club receives member-ship dues in advance
B) Electronics store offering lay-away plan to low income customers
C) Grocery store
D) Christmas tree farm.It takes on average 7 years to grow a tree.
E) Builder building a town-house development for a real estate developer.
F) Sports equipment store offering $50 gift cards for $40 as a weekend promotion
G) Real estate mogul who sells large tracts of land.H) A diamond mining company

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A) Fitness club receives member-ship due...

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