Firms frequently sign contracts promising to pay defined amounts in the future in return for future benefits. If the firm has not received past or current benefits, but will receive the benefits in the future, accounting treats the obligation as a(n) _____ contract and typically _____
a. contingent; does recognize a liability
b. executory; does not recognize a liability
c. executory; does recognize a liability
d. contingent; does not recognize a liability
e. future; does recognize a liability
B
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Costs such as labor, materials, equipment, or contractors are examples of ________ project costs.
Fill in the blank(s) with the appropriate word(s).
Which of the following practices will make a paragraph effective for a reader?
A. Using transitional words and phrases between sentences in the paragraph B. Introducing two or more main ideas in the paragraph C. Providing continuity breaks in the paragraph D. Keeping the middle paragraph shorter than the first and last paragraphs
The U.S. Supreme Court has:
a. used the Contract Clause to restrict states from retroactively modifying public charters and private contracts. b. held that the Contract Clause precludes states from exercising their police powers. c. held that the Contract Clause precludes states from exercising eminent domain. d. All of these.
In large companies, which of the following would NOT be included in operations?
a. hiring and firing of staff b. purchasing c. production d. inventory control e. plant management