What is accounting read more on:During business transaction, revenue is said to be realized when the revenue from sales or services is recognized during the time of delivery. The term realization is a concept used when the revenue is recognized and recorded in the period in which they are realized. Another term used in realization is the revenue recognition principle.In revenue recognition principle, they are accepted as a revenue only once it has been earned.
What is the definition of accountancy? read more on:
What is the antonyms of realization read more on:
The ABS Company is a motorcycle dealer. It receives order from the customers in advance against 30% down payment.After 5 days the ABS company will deliver the motorcycle and they will receive the remaining 70% of the price.
Using the realization principle, ABS company must not recognize any revenue until the motorcycle were delivered to the respective customers, when the risk and rewards incidental to the ownership of the motorcycle are transferred to the buyer.
answer: a small scale enterprise, or more simply, a small business, is one marked by a limited number of employees and a limited flow of finances and materials. clearly, google, general motors and wal-mart are not companies that anyone would mistakenly label a small enterprise.
while north korea get their money from china or russia