On October 15, a company received $15,000 cash as a down payment on a consulting contract. The amount was credited to Unearned Consulting Revenue. By October 31, 10% of the services required by the contract were completed. The company will record consulting revenue of $1,500 from this contract for October.
Answer the following statement true (T) or false (F)
True
Revenue = $15,000 × 10% = $1,500
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What is invigilation?
a. A theft investigation technique which records the physical evidence, facts, and movements, which form part of a fraud. b. A theft investigation technique which involves close supervision of the suspects during the examination period. c. A theft investigation technique which is used when large scale fraud is likely and other methods of investigation fail. d. A theft investigation technique which involves confiscating and searching computers and other electronic sources of information.
In the context of SWOT analysis, marketers can identify strengths and weaknesses by focusing on:
a. employee capabilities. b. government policies. c. quality of products produced by competitors. d. foreign competitors.
Joseph Company is preparing to repay a one-year note on May 1, Year 2. The first step in this process is to accrue eight months of interest expense.
Answer the following statement true (T) or false (F)
A firm that is unable to obtain financing to manufacture new products is likely encountering negative pressures from
A. the economic environment. B. the competitive environment. C. the cultural/social environment. D. the technological environment. E. the political/legal environment.