According to the FASB, the usefulness of accounting is judged by which of the following two prime qualitative characteristics of accounting information?
a. Comparability and neutrality
b. Understandability and comparability
c. Verifiability and timeliness
d. Relevance and reliability
D
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Customer lifetime value is the combined total of all future sales.
Answer the following statement true (T) or false (F)
Use the following information to answer the question below. When Langston Corporation was formed on January 1, 20x5, the corporate charter provided for 100,000 shares of $10 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1. The corporation issued 400 shares of stock to its lawyer in full payment of the $10,000
bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2. The company issued 16,000 shares of stock at a price of $50 per share. 3. The company issued 14,000 shares of stock in exchange for equipment that had a fair market value of $320,000. The entry to record transaction 3 is: A) Equipment 320,000 Common Stock 320,000 B) Common Stock 140,000 Equipment 140,000 C) Equipment 140,000 Common Stock 140,000 D) Equipment 320,000 Common Stock 140,000Additional Paid-in Capital 180,000
Which of the following is the most logical budget-setting method?
A) percentage-of-sales method B) affordable method C) competitive-parity method D) objective-and-task method E) push method
Salespeople need to segment their accounts by the amount of revenue generated to:
A. accomplish all their personal goals. B. perform an OAKS analysis before a value analysis. C. improve the quality of their firm's advertising campaigns. D. reduce the amount of time they spend with large accounts. E. ensure they use their time appropriately.