How are revenues similar to gains and how are they different?
What will be an ideal response?
Answer: Revenues and gains are both inflows or other enhancements of an entity's assets that result in an increase in stockholder's equity. Revenues arise from an entity's ongoing major or primary operations while gains result from secondary events and circumstances.
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Zephyros Corporation had estimated manufacturing overhead costs for the coming year to be $303,000
The total estimated direct labor hours and machine hours for the coming year are 7,000 and 12,000, respectively. Manufacturing overhead costs are allocated based on direct labor hours. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A) $25.25 per machine hour B) $15.95 per direct labor hour C) $43.29 per direct labor hour D) $1.71 per machine hour
In terms of the 75/15/10 rule, the 75% represents the:
A) money spent on media time or space B) money spent on ad production C) money spent for the creative work D) percentage of the work that must be completed before the client can be billed