The accrual basis of accounting reflects the principle that revenue is recorded when it is earned, not when cash is received.
Answer the following statement true (T) or false (F)
True
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Assume that on January 15, a customer who owes Shawni sales company $1,000 is declared bankrupt by a federal court. The entry that would be made to write off this account is:
a. Allowance for uncollectible 1,000 Accounts receivable, customer account 1,000 b. Accounts receivable 1,000 Cash 1,000 c. Accounts receivable 1,000 Notes receivable 1,000 d. Cash 1,000 Accounts Receivable 1,000
Mattea’s boss often looks for the backing of other influential managers in the organization to get things done. This is known as ______.
A. lines of reference B. lines of information C. lines of support D. lines of personal power
Melanie is working on a report and has reached Phase 2 of the 3-x-3 writing process. What should she do first in this second phase?
A) Write the rough draft of her report. B) Decide how to organize the report. C) Analyze her purpose and audience. D) Gather any necessary information.
________ is the process by which parties to a dispute submit their differences to the binding judgment of an impartial third person or group selected by mutual consent
A. Conciliation B. Diplomacy C. Arbitration D. Mediation