ACAMS Practice Questions
Accounting Cycle and Classifying Accounts
Accounting For Managers
Accounting for Merchandising Activities
Accounting for Pensions
Accounting Information Systems
Activity Based Costing
Adjusting Accounts for Financial Statements
Advanced Business Economics
Advertising and Public Relations
Advertising and Sales Promotion
An Overview of International Business
Analysis and Forecasting Techniques
Analyzing and Recording Transactions
Applied Business Research
Asset Demand and Supply under Uncertainty
Auditing and Attestation
Behavioral and Allied Sciences
Bonds and Long Term Notes Payable
Business Analytics & Technology Management Chapter 2
Business Analytics & Technology Management Chapter 3
Business Analytics & Technology Management Chapter 4
Business Analytics & Technology Management Chapter 5
Business Analytics & Technology Management Chapter 6
Business and Company Law
Business Ethics and Governance
Business Ethics Exam
Business Law Study guide
Business Organisations and Environment
Business organization and systems
Business Process Performance
California Real Estate
Capital Budgeting and Managerial Decisions
Changes in Accounting Principles
Changing Marketing Environment
Consolidated Financial Statements
Corporate and Business Law
Cost Accounting Final exam
Cost Accumulation Systems
Cost Allocation Techniques
Cost and Managerial Accounting
Cost of Capital
Cost Terms and Classifications
Cost Volume Profit Analysis
Currency Exchange Rates
Customer Relationships and Value
CVP Analysis and Marginal Analysis
Debt and Bankruptcy
Decision Makers Household Sector
Demand for Money
Derivative Instruments and Hedging Activities
Dividends and Payout Policy
Dividends, Shares, and Income
Elasticities of Demand and supply
Employee Training and Development
Environments of Business
Essence of Management
Ethical and Professional Standards
Ethics and Social Responsibility
Ethics for Management Accountants
External Financial Statements and Revenue Recognition
Federal Securities Acts
Financial and the Nonfinancial Sectors
Financial Decision Making
Financial Intermediaries and Financial Markets
Financial Markets and Securities Offerings
Financial Statements and Accounting Transactions
Flexible Budgets and Standard Costs
Florida Real Estate MCQs
Fraud Internal Control and Cash
Fundamental Accounting Principles
Global Marketing and World Trade
Governmental Accounting State and Local
Health and Life Comprehensive Exam
Health and Life Practice Questions
Human Resource Management
Human Resource Management HRM
Human Resource Planning
Importance of Business Economics
Insurance and Risk Management
Insurance License Texas Life and Health
Integrated Marketing Communications and Direct Marketing
Interactive Marketing and Electronic Commerce
Internal Auditing and Systems Controls
Internal Control and Cash
International Trade and Globalisation
Interpersonal and Organizational Communication
Introduction to Business
Introduction to Human Resource Management
Introduction to Human Resources Assessment
Investment Risk and Portfolio Management
Job Order Costing
Life and Health Insurance
Life Insurance Basics
Life Insurance Policies
Life Insurance Policy
Long Term Investment
Long Term Securities
Management and Cost Accounting
Managerial Accounting Concepts and Principles
Managing Organizational Change
Managing Production and Operations
Managing Products and Brands
Market Segmentation Targeting and Positioning
Marketing and Corporate Strategies
Marketing Channels and Wholesaling
Master Budgets and Planning
Mergers and Acquisitions
Money and Banking
National Health Insurance
Not For Profit Accounting
Organization and Operation of Corporations
Organizational Behavior Essentials
Organizational Markets and Buyer Behaviour
Organizational Structure and Design
Personal Selling and Sales Management
Principles and Practices of Management
Production and Operations Management
Profitability Analysis and Analytical Issues
Profitability Analysis and Decentralization
Property Plant and Equipment
Property Plant and Equipment Exam
Reporting and Analyzing Cash Flows
Reporting and Analyzing Long Lived Assets
Reporting and Analyzing Receivables
Responsibility Accounting and Performance Measures
Risk and Procedures for Control
Service Department Costing
Short Term Financing
Short Term Investment
Standard Costs and Variance Analysis
State Health Insurance
Statement of Cash Flow
Statement of Comprehensive Income
Statement of Financial Position
Stock Market and Stock Prices
Strategic Marketing Process
Structure of Interest Rates
Succession and Transfer Taxes
Supply Chain and Logistics Management
System Analysis and Design
Texas Real Estate
The Management Challenge
Total Quality Management
Understanding Exchange Rates
Understanding Interest Rates
Understanding Interest Rates Determinants
Value Added Tax
Revenue Recognition MCQs
Revenues of an entity are usually measured by the exchange values of the assets or liabilities involved. Recognition of revenue does not occur until
The revenue is realizable.
The revenue is realized and earned.
Products or services are exchanged for cash or claims to cash.
The entity has substantially accomplished what it agreed to do.
Robin Gavaskar, who recently founded a company that produces baseball bats and balls, wants to determine her companyâ€™s policy for revenue recog...
The sale occurs.
Cash is received.
Production is completed
Quarterly financial statements are prepared.
ABC operates a catering service that specializes in business luncheons for large corporations. ABC requires customers to place their orders 2 weeks in...
Customer places an order.
Luncheon is served.
Billing is mailed.
Customer’s payment is received.
A company provides fertilization, insect control, and disease control services for a variety of trees, plants, and shrubs on a contract basis. For $50...
When the cash is collected.
Evenly over the year as the services are performed.
At the end of the contract year after all of the services have been performed.
At the end of the fiscal year.
On February 1, Year 1, a computer software firm agrees to program a software package. Twelve payments of $10,000 on the first of each month are to be ...
An airline should recognize revenue from airline tickets in the period when
Passenger reservations are booked.
Passenger reservations are confirmed.
Tickets are issued.
Related flights occur.
A department store sells gift certificates that may be redeemed for merchandise. Each certificate expires 3 years after issuance. The revenue from the...
Evenly over 3 years from the date of issuance.
In the period the certificates are sold.
In the period the certificates are sold.
In the period the certificates are redeemed or in the period they expire if they are allowed to lapse.
To comply with the matching principle, the cost of labor services of an employee who participates in the manufacturing of a product normally should be...
Work is performed.
Employee is paid.
Product is completed.
Product is sold.
It is proper to recognize revenue prior to the sale of merchandise when I. The revenue will be reported as an installment sale. II. The revenue will...
Both I and II.
Neither I nor II.
The calculation of the income recognized in the third year of a 5-year construction contract accounted for using the percentage-of-completion method i...
Costs incurred in Year 3 to total billings.
Costs incurred in Year 3 to total estimated costs.
Total costs incurred to date to total billings
Total costs incurred to date to total estimated costs.
A company appropriately uses the completed-contract method to account for a long-term construction contract. Revenue is recognized when progress billi...
A building contractor has a fixed-price contract to construct a large building. It is estimated that the building will take 2 years to complete. Progr...
After the contract is signed.
As progress is made toward completion of the contract.
As cash is received.
When the contract is completed.
DEF is the consignee for 1,000 units of product X for ABC Company. ABC should recognize the revenue from these 1,000 units when
The agreement between DEF and ABC is signed.
ABC ships the goods to DEF.
DEF receives the goods from ABC.
DEF sells the goods and informs ABC of the sale.
When a right of return exists, an entity may recognize revenue from a sale of goods at the time of sale only if
The amount of future returns can be reliably estimated
The seller retains the risks and rewards of ownership.
The buyer resells the goods.
The seller believes returns will not be material
Unrealized gains and losses on trading securities should be presented in the
Statement of financial position.
Notes to the financial statements.
Statement of retained earnings.
A construction company has signed $1,000,000 in new contracts. During the current year, 10% of the required work for these contracts was performed. H...
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