Which one of the following is not a recognized method of recognizing assets as expenses in a particular accounting period?
a. Customers' account balances in accounts receivable are assigned to expense in the period in which each customer pays.
b. Prepaid insurance is assigned to expense as the insurance expires.
c. A building is depreciated and its cost is assigned to the current and future accounting periods in which the building is expected to be used.
d. Merchandise inventory is assigned to cost of goods sold in the period the goods are sold.
a
You might also like to view...
Social Media is an effective tool used to increase brand awareness
Indicate whether the statement is true or false a. True b. False
Corporate social responsibility (CSR) has been defined by the European Commission (2005) as existing when:
a. Companies integrate social and environmental concerns in their business operations and in their interactions with their stakeholders on a voluntary basis b. Companies do the right thing c. Companies maintain their immediate environment in pristine shape d. All of the above
The adjusted trial balance of the Waterstone Company follows: Waterstone CompanyAdjusted Trial BalanceDecember 31?DebitCreditCash8,000?Prepaid insurance2,400?Equipment18,000?Accumulated depreciation-Equipment?3,600Salaries payable?2,000Unearned repair fees?1,200T. Waterstone, Capital?11,400T. Waterstone, Withdrawals4,000?Repair fees earned?27,500Salaries expense10,000?Depreciation expense 1,800?Insurance expense1,500?Totals45,70045,700Prepare the closing entries for Waterstone Company.
What will be an ideal response?
__________is an incremental development process that has less emphasis on team coding and more emphasis on limiting a project's scope
A) The V-shaped model B) The joint application design approach C) Rapid prototyping D) Agile methodology