Several actions that an organization may take are not recognized or entered in the accounting records. While not entered into the formal accounting system, several such actions are exceedingly important to the organization. Required: Comment on the current and future implications that the hiring of a new president may have on the organization's accounting records
The hiring of a new president would not be recorded in the accounting records, as it does not immediately affect recorded assets, liabilities, or stockholders' equity. The hiring does not carry a historical cost that is easily quantified for accounting purposes. Information about the hiring, including the president's name, address, etc. would be entered into the organization's information systems (such as personnel and payroll). Subsequent periods in which the president earned his/her salary may record a debit to Salaries Expense and a credit to Cash (or Salaries Payable). Such a transaction does have an objectively determined value per the employment contract.
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A purchase of raw materials from a supplier is a(n) ____________________ event
Fill in the blank(s) with correct word
Which of the following value creation processes means sharing the brand "good news" and inspiring others to use the brand?
A) staking B) badging C) evangelizing D) justifying E) milestoning
The chi-square test is performed by:
A) comparing a metric variable with a categorical variable B) comparing one frequency table with one cross-tabulation table C) comparing the difference among categories of more than three variables D) comparing observed frequencies with expected frequencies E) comparing the pie chart with the stacked bar chart
The founder of Habitat for Humanity found it difficult to turn management of the nonprofit over to a new chief executive officer. The founder was demonstrating ______ syndrome.
A. fear B. change C. founder D. reluctance