The___________of accounting necessitates a number of adjustments at the end of an accounting period
Fill in the blank(s) with correct word
accrual basis
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Firms almost always report asset impairment charges or restructuring charges in _____
a. income from continuing operations b. income, gains, and losses from discontinued operations c. extraordinary gains and losses d. retained earnings e. paid-in-capital
A retail ownership change financed by low-grade loans from banks and investors is a(n) _____
a. initial public offering b. sale-leaseback c. leveraged buyout d. reorganization loan
Which of the following statements is FALSE? In a bill of lading
A) is a receipt showing a transportation company has goods to be delivered B) usually include a term that limits the liability of the transportation company C) courts no longer require that the bill of lading be signed to be valid D) are governed by federal and provincial statutes E) require that adequate notice has to be given to the customer for an exemption clause to be effective
e-Shop, Inc. has net sales on account of $1,500,000. The average net accounts receivable are $610,000. Calculate the days' sales in receivables. (Round your answer to two decimal places.)
A) 897.90 days B) 365.00 days C) 148.37 days D) 2.46 days