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REVENUE RECOGNITION (GRADED)
Hello Class;
When a company sells a product for cash, it generally recognizes the revenue. However, there are situations when it is not always clear when a company should recognize the revenue.
1) How do you handle a car dealership that sells a warranty contract to its customers for $650 that will cover the next 5 years?

TIME VALUE OF MONEY CONCEPTS (GRADED)
Hello Class;
You might think of the “time value of money” to be a topic for Finance class, but accountants need an understanding of this topic as well.