Pablo has purchased several items from a gadget store. As the storekeeper bills the items, Pablo realizes that he does not have enough money in his bank account to make the payment. In these circumstances, Pablo can use his _____, which would allow him to make the purchase now and clear the balance later.
A. debit card
B. loyalty card
C. fleet card
D. credit card
Answer: D
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A private college received an offer from a CPA who is an alumnus to teach a one-semester advanced accounting course at no cost. ASC 958 prescribes that this contribution of service:
A. need only be disclosed in the footnotes to the financial statements. B. need not be recorded if the service is for a period less than one academic year. C. be recorded as an asset with an equivalent amount recorded in the unrestricted fund balance. D. be recorded as a revenue with an equivalent amount recorded as an expenditure.
On a multi-step income statement, the operating expenses are subtracted from ________ to arrive at operating income
A) net sales B) cost of goods sold C) net profit D) gross profit
What combination of a and b will yield the optimum for this problem?
Maximize $6a + $15b, subject to 1. 4a + 2b ? 12 and 2. 5a + 2b ? 20 and 3 . x, y ? 0. A) a = 0, b = 0 B) a = 3, b = 3 C) a = 0, b = 6 D) a = 6, b = 0 E) a = 0, b = 10
In a suit against Evan, Floyd obtains an injunction. This is
A. an order to do or to refrain from doing a particular act. B. an order to perform what was promised. C. a payment of money or property as compensation. D. the cancellation of a contract.