The fact that any problems a seller has in collecting amounts due from customers is accounted for separately is implied in the language of:
A. step 2 "transferring control of goods or services to a customer."
B. step 3 "entitled to."
C. step 5 "when (or as) each performance obligation is satisfied."
D. step 1 "it can be written, verbal, or merely implied."
Answer: B
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An advantage of real-time processing of sales is
a. the cash cycle is lengthened b. current inventory information is available c. hard copy documents provide a permanent record of the transaction d. data entry errors are corrected at the end of each batch
Which of the following is NOT an example of a commonly used probability sampling technique?
A) quota sampling B) systematic sampling C) stratified sampling D) cluster sampling E) simple random sampling
The ratio that is computed by dividing the number of days in a period by the inventory turnover ratio is:
a. accounts receivable turnover ratio. b. number of days' sales in inventory. c. inventory turnover ratio. d. working capital turnover ratio.
________ is expressed in terms of providing explanations or accounts for decisions made.
A. Distributive justice B. Interactional justice C. Retributive justice D. Informational justice