In 2012 which nation had the highest brand ranking?
a. France
b. Germany
c. United Kingdom
d. United States
d. United States
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Which one of the following is an example of a deferred revenue?
a. Sales are made to customers on credit. b. Interest has been earned by a bank deposit, but it has not been recorded. c. Cash is received prior to providing the services to customers. d. Cash sales are made to customers.
In a limited liability company the individuals who own the company are generally not personally liable for the company debts
a. True b. False
The current ratio is a measure of liquidity that reflects
A) how many current assets you own free and clear. B) your debt payments for the current period. C) how many times you can pay off your current liabilities by using your liquid assets. D) the portion of your total liabilities that are considered current liabilities.
Smith is engaged in the audit of a cable TV firm that services a rural community. All receivable balances are small, customers are billed monthly, and internal control is effective. To determine the existence of the accounts receivable balances at the balance sheet date, Smith would most likely
A. Send positive confirmation requests. B. Send negative confirmation requests. C. Examine evidence of subsequent cash receipts instead of sending confirmation requests. D. Use statistical sampling instead of sending confirmation requests.