What does the phrase, "Revenue is recognized at the point of sale" mean?
a. Revenue is recorded in the accounting records when the goods are received from a supplier, and reported on the income statement when sold to the customer.
b. Revenue is recorded in the accounting records and reported on the income statement when the cash is received from the customer.
c. Revenue is recorded in the accounting records when the goods are sold to a customer, and reported on the income statement when the cash payment is received from the customer.
d. Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer.
d
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Answer the following statements true (T) or false (F)
1. The 2010 health care reform legislation requires employers with more than 50 employees to provide health insurance. 2. The Family and Medical Leave Act requires employers to provide 12 weeks of paid leave for medical and family reasons like childbirth or adoption. 3. Title VII of the Civil Rights Act of 1964 applies to all for-profit companies. 4. Antidiscrimination laws do not require employers to extend preferential treatment because of race, color, or religion.
Rationalization involves the mindset of the fraudster to justify committing the fraud
a. True b. False Indicate whether the statement is true or false
This question has two parts; be sure to answer both. First, explain the three steps in the OD process. Next, suppose you are a student member of your college's or university's committee that is attempting to study why an excessive number of students drop out of your college. Give examples of activities your task force might take in each stage of its OD process.
What will be an ideal response?
Why do companies develop estimates for overhead costs? How are estimates developed?