When a Company Sells a $100 Service with a 20

question 57

True/False

When a company sells a $100 service with a 20% trade discount,$80 of revenue is recognized.

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Definitions:

Geologic Time Scale

A system of chronological dating that relates geological strata to time, used by geologists and other Earth scientists to describe the timing and relationships of events in Earth's history.

Eon

The largest division of the geologic time scale; eons are divided into eras.

Mass Extinction

An event in which a significant, global decrease in the diversity and abundance of life occurs in a relatively short period of geological time.

Cretaceous Period

The geological time period between 145 and 66 million years ago, the last period of the Mesozoic Era, known for the extinction of dinosaurs and rise of flowering plants.