Premium fee revenues should be recognized as:
a. Revenue in the period the premium was received.
b. Revenue in the period covered by the premium.
c. As deferred revenue until the services are actually provided.
d. As revenue only if services with standard charges equal to or greater than the premium for the period are provided in the period.
B
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ISO 9002 deals with the requirements that an organization has to fulfill in order to meet the standards and provides a model for quality assurance in design, development, production, installation, and servicing for creation of new products, services
, and systems. Indicate whether the statement is true or false
Use the information in Scenario C.1. How many production runs per year are needed if Jerry chooses to produce at his economic production lot size (ELS)?
A) fewer than or equal to 10 runs B) greater than 10 runs but fewer than or equal to 20 runs C) greater than 20 runs but fewer than or equal to 30 runs D) greater than 30 runs