A Company That Ships Product to Its Customers in January

question 89

True/False

A company that ships product to its customers in January 20B but records them as revenue in December 20A has not violated the revenue principle because they were manufactured and ready for sale before the accounting year end.

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Definitions:

Supreme Court

The highest federal court in the United States, consisting of nine Justices and having ultimate jurisdiction over all federal court cases and state court cases involving issues of federal law or the Constitution.

Wagner Act

A foundational piece of labor legislation passed in 1935 in the United States that established the rights of workers to unionize and engage in collective bargaining.

Popular Front

A broad coalition of different political groups united for a common goal, especially against fascism in the 1930s.

American Society

A complex social system encompassing the diverse cultural, economic, political, and social structures within the United States.