When is revenue recognized under accrual accounting?
What will be an ideal response?
Recognizing revenue when it is earned and expenses when they are incurred, regardless of when cash changes hands, is commonly called accrual accounting.
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Which ethical theory holds that individuals must decide what is ethical based on their own
feelings as to what is right or wrong? A) Ethical relativism B) Utilitarianism C) Kantian ethics D) Ethical fundamentalism
DFDRR ______.
a. helps to reduce waste b. increases marketing costs c. reduces advertising costs d. ensures compliance with government regulations
A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the problem definition has only minor modifications, and the buying objective is the low-priced supplier, the buy class situation is most likely a
A. conditional rebuy. B. standard reorder. C. modified rebuy. D. new buy. E. straight rebuy.
Which of the following statements concerning day traders are correct?
I. Day traders generally do not hold securities over night. II. Day trading is a relatively low risk approach to investing. III. Some day traders sell stocks short. IV. Day trading was declared illegal by the Market Stabilization Act of 2002. A) I and II only B) I and III only C) I, II and IV only D) II, III and IV only