Which of the following would be an example of conservative accounting?
A. Assessing the probability of a contingent liability as probable.
B. Estimating the percentage of bad debts as 6% of accounts receivable instead of 10% of accounts receivable.
C. Estimating warranty costs to be 4% of sales instead of 9% of sales.
D. Estimating that none of the inventory has a market value below cost rather than estimating that some inventory has a market value below cost.
Answer: A
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In terms of roles people can play, the four types of creativity types are:
A) Innovation, sublimation, extension, and duplication B) Innovation, synthesis, extension, and duplication C) Invention, sublimation, synthesis, and implementation D) Incubation, idealization, synthesis, and verification
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $8450 before adjustment, and the unexpired amount per analysis of policies is $3600?
A. Debit Cash, $8450; Credit Prepaid Insurance, $8450. B. Debit Prepaid Insurance, $4850; credit Insurance Expense, $4850. C. Debit Insurance Expense, $4850; credit Prepaid Insurance, $4850. D. Debit Insurance Expense, $3600; credit Prepaid Insurance, $3600. E. Debit Insurance Expense, $8450; credit Prepaid Insurance, $8450.
The basic purpose of packaging is to create eye appeal.
Answer the following statement true (T) or false (F)
Jessica was asked to view a television ad for a movie that was due to be released at a later date. After viewing the ad, she was required to fill a questionnaire that included questions such as "Did the ad make you want to see the movie?" "Did the movie title seem appropriate?" and "Did you understand the theme of the movie?" In this scenario, Jessica's ________ responses are being noted.
A. behavioral B. kinesthetic C. cognitive D. creative E. selective