Sam Jones, controller of Mitnikco, spends three days researching the accounting statements to find loopholes in the "rules" and to make a case for recognizing revenue earlier, rather than in later years. In the end, Sam and the other members of management determine that they will reduce the company's deferred revenue accounts and begin accounting for all revenues as agreements are signed. What
are the motivations of Mitnikco management based solely on the information above?
a. Pressures.
b. Opportunity.
c. Rationalization.
d. Skepticism.
c
You might also like to view...
What is the total stockholders' equity based on the following account balances? Common Stock $375,000 Paid-In Capital in Excess of Par 90,000 Retained Earnings 190,000 Treasury Stock 15,000
a. $670,000 b. $655,000 c. $640,000 d. $565,000
Cash flows from acquiring and disposing of long-term assets are classified as
a. operating activities. b. investing activities. c. financing activities. d. purchasing activities.
Lance indorses a promissory note to Connie in exchange for consideration. Unknown to Lance, the note is not good because the maker's signature was forged. Connie later attempts to present the instrument for payment to the original alleged maker, Lilly, who is able to deny liability for payment due to the forged signature. Connie may later sue Lance for breach of a transfer warranty
a. True b. False Indicate whether the statement is true or false
Under Title VII, employers cannot use aptitude tests
Indicate whether the statement is true or false