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Find what method where revenue is recognized at time of sale

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Reference no: EM132713938

Problem 1. An acceptable method for recognizing profit when the collection of cash is doubt is the:

a. Percentage of completion method

b. Installment method

c. Zero profit method

d. Consignment method

Problem 2. Under what method where revenue is recognized at the time of sale?

a. Installment sale method

b. Accrual method

c. Cost recovery method

d. Profit realization method

Problem 3. Under the installment sales method, the gross rate based on the sale may be computed as :

a. Sales divided by gross profit

b. Gross profit divided by costs of sales

c. Deferred gross profit divided by installment account receivable

d. All of the above

Reference no: EM132713938

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