Accounting Crash
Course with correct
answers 2025/2026
Revenues are recognized... and expenses are recognized... - Correct answerwhen the economic
exchange occurs; when the associated revenues are recognized
Cash accounting is used for what companies? - Correct answerCompanies with revenues under
$1 million or maybe $10 million in certain circumstances
Gross Profit - Correct answerNet Sales - COGS
SG&A Examples - Correct answerCorporate office supplies, executive's trip to Asia, cashier at
Apple, rental space at consulting firm
Course with correct
answers 2025/2026
Revenues are recognized... and expenses are recognized... - Correct answerwhen the economic
exchange occurs; when the associated revenues are recognized
Cash accounting is used for what companies? - Correct answerCompanies with revenues under
$1 million or maybe $10 million in certain circumstances
Gross Profit - Correct answerNet Sales - COGS
SG&A Examples - Correct answerCorporate office supplies, executive's trip to Asia, cashier at
Apple, rental space at consulting firm