Which of the following events (transactions) is an internal event for a business entity?
a. An accountant provides services for clients.
b. An accountant purchases computer equipment to maintain business records and prepare legal documents.
c. An accountant receives cash payments from clients for services performed.
d. Periodically, part of the cost of the computer equipment used by an accountant is assigned to depreciation expenses.
d
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The operating income of a company is $10 million, the net marketing contribution is $30 million and general and administrative expenses are $5 million. Calculate the other operating expenses
A) $10 million B) $5 million C) $15 million D) $20 million E) $25 million
Which of the following statements is true of the Sarbanes-Oxley Act?
A. It does not require lawyers to report concerns of wrongdoing if not addressed. B. It does not require codes of ethics for senior financial officers. C. It includes requirements for certification of documents by officers. D. It focuses mainly on the tone or culture of a firm.
What is a question of fact? Give an example of a question of fact for a persuasive speech.
What will be an ideal response?
On October 1, 2012, Zane Corporation paid $18,000 rent in advance. The rent per month is $1,500. If Zane's accounting period ends on December 31, 2012, what will be reported on the financial statements?
A) Prepaid Rent of $13,500 on its balance sheet at December 31, 2012 B) Prepaid Rent of $18,000 on its balance sheet at December 31, 2012 C) Rent Expense of $18,000 on its 2012 income statement D) Rent Revenue of $13,500 on its 2012 income statement