The entry to record the expiration of program restrictions includes which of the following?
A. Debit Reclassification from Temporarily Restricted Net Assets.
B. Credit Reclassification from Temporarily Restricted Net Assets.
C. Credit Performance Expense.
D. Debit Reclassification to Unrestricted Net Assets.
Answer: A
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Which of the following is the best description of the purpose of financial reporting?
a. To allow users to access to the daily detailed records of a business. b. To help the users reach their decisions in an informed manner. c. To provide users with an assessment of how long the company will continue as a going concern. d. To allow users access to a list of all the individuals who owe the company money.
By definition, a sale under Article 2 of the UCC requires:
a. that the parties involved be merchants. b. that the product involved be goods, services, or a mixture; that the sale be between or among merchants; and that the sale take place in the normal course of business for that industry. c. that title to the goods pass between the seller and the buyer and that a price be paid for the goods. d. that the service being sold cannot be a gift or a bailment.
During sensitivity analysis, the shadow price indicates the minimum value of contribution coefficients that will not alter the value of the objective function
a. True b. False
Criticisms of compulsory insurance laws include which of the following?
I. They provide less than complete protection since they require only a minimum amount of liability insurance. II. Even with compulsory insurance laws, a substantial number of motorists continue to operate vehicles without insurance. A) I only B) II only C) both I and II D) neither I nor II