Definition criteria of income of a fees received

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Problem 1: Apply the definition and recognition criteria of income to justify the recording of a fees received from a customer for a trip via Uber.

Problem 2: Why is it important that the recognition criteria are met (along with the definitions) in relation to the elements? Explain with reference to a business who had a court hearing suspended due to Covid-19. Prior to the court closing due to self-isolation, the Judge found the business guilty of negligence to a customer, but no amount of compensation has been determined yet.

Reference no: EM132617753

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