104k views
4 votes
The receipt of goods and services in the normal course of business represents the date clients normally recognize ____________ .

User Wagashi
by
8.9k points

2 Answers

6 votes
The receipt of goods and services in the normal course of business represents date clients normally recognize 'revenue'

(Ai Generated)
User Udi Meiri
by
8.5k points
6 votes

Final answer:

In business, the receipt of goods and services usually denotes the point at which revenue is recognized. Regular events, such as receiving a paycheck, have a specific period and frequency that are crucial for financial planning.

Step-by-step explanation:

The receipt of goods and services in the normal course of business represents the date clients normally recognize revenue. For example, when a person regularly receives a paycheck for their work, they can identify the period of the paycheck receipt (such as bi-weekly or monthly) and the frequency of that event (such as every two weeks or once a month).

Understanding the period and frequency of regular events, like receiving a paycheck, helps in planning and budgeting both in personal finance and in business accounting practices.

User Tegiri Nenashi
by
8.5k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.