Holidays Ltd Manufactures Caravans

question 35

Multiple Choice

Holidays Ltd manufactures caravans.Transactions for the year ended 30 June 2016 were as follows:
- What was the reported profit for the year ended 30 June 2016 if revenue was recognised when cash was received?

• A) $5 000 000
• B) $6 000 000
• C) $24 000 000
• D) $4 000 000

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Definitions:

Address the Issue

Directly confronting and dealing with a problem or challenge.

Benefits

Advantages or positive outcomes that result from a specific action, policy, or product, which contribute to the well-being or satisfaction of individuals.

Safety Features

Elements or devices designed to minimize risk and protect against accidents or harm in products, vehicles, or environments.

Service Record

Documentation or history of the performance, maintenance, and repairs of equipment or of an individual's service in an organization.