Examlex
Bernie's sales manager has just told him that if he wants to quit wasting time making presentations to people who aren't qualified he's going to have to think "MAD." What was the sales manager trying to tell David?
Service-Type Business
A service-type business is an entity that provides intangible products or services to customers, rather than physical goods.
Accrual-Basis Accounting
Accounting basis in which companies record transactions that change a company's financial statements in the periods in which the events occur.
Cash-Basis Accounting
Accounting basis in which companies record revenue when they receive cash and an expense when they pay out cash.
Revenue Recognition Principle
An accounting principle stating that revenue should be recorded when it is earned and realizable, regardless of when the cash is received.
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