Two tables can be linked or joined together through a common field
a. True
b. False
Indicate whether the statement is true or false
True
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As a general rule, revenue is recognized at the point of sale. Which one of the following situations illustrates this rule?
a. Products are sold to customers on credit with payment due in 30 days. b. Employees are paid wages the week after the wages are earned. c. Products are purchased for resale purposes. d. Interest is collected from amounts loaned to employees.
Answer the following statements true (T) or false (F)
Moonitz felt that APB Statement 4 should have been issued as an opinion rather than as a statement because departures from GAAP made in a statement did not have to be disclosed.
Sometimes codes of ethics are used to force members to comply with organizational rules. This reflects which metaphor?
A. code as rule book B. code as magnifying glass C. code as club D. code as shield
Control of inventory should begin as soon as the inventory is received. Which of the following internal control steps is not done to meet this goal?
A) check the invoice to the receiving report B) check the invoice to the purchase order C) check the invoice with the person who specifically purchased the item D) check the invoice extensions and totals