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According to FASB, initial franchise fees should be recognized as income when
A. the franchisee shows the ability to pay the fee.
B. the franchisor has collected the majority of fee in cash.
C. the franchisor has substantially performed or satisfied all material services and conditions.
D. the franchisor bills the franchisee.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Accounting and reporting standards for franchisors require that revenue be recognized when the franchisor has substantially performed or satisfied all material services and conditions.
NEW QUESTION: 2
DRAG And DROP]
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Explanation:
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A. In-band is preferred.
B. Out-of-band is preferred.
C. The interface that has the highest priority is selected.
D. The first configured interface is selected.
Answer: A
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Feedbacks
Aalk - 2014-05-05 16:45:18
Plato - 2014-05-05 16:45:51
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Eleanore - 2014-09-28 16:36:48