Firms recognize revenue, or income, under the following condition(s)
a. completion of the earnings process, only.
b. receipt of assets from the customer, only.
c. completion of the earnings process and receipt of assets from the customer.
d. receipt of cash from the customer, only.
e. commencement of the earnings process, only.
C
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Select the incorrect statement regarding the relationship between cost behavior and profits.
A. A pure fixed cost structure offers more security if volume expectations are not achieved. B. In a pure fixed cost structure, the unit selling price and unit contribution margin are equal. C. A pure variable cost structure offers higher potential rewards. D. In a pure variable cost structure, when revenue increases by $1, so do profits.
Financing activities involve:
A) purchasing long-term assets. B) payment of operating expenses. C) selling long-term assets. D) issuance of long-term debt.
Which of the following is the best example of a conclusion in an employment discrimination case?
A) The employee was terminated. B) The employee worked for the company for 2 years. C) The employee did an interview for a local newspaper supporting a political candidate. D) The employee is entitled to $50,000 for damages.
The GATS covers trade-related aspects of intellectual property rights
Indicate whether the statement is true or false