The ________ is the best measure of central tendency for categorical data
A) mean
B) median
C) weighted mean
D) mode
D
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The relevance of audit evidence depends on the audit assertion being tested
a. True b. False Indicate whether the statement is true or false
A nonprofit board of directors is studying how the organization’s culture impacts capacity building. The board of directors is applying the ______.
A. SWOT Analysis B. Harvard Policy Model C. Boston Consulting Group Portfolio Analysis D. McKinsey & Company’s Capacity Framework
When should Fassino's recognize revenue from selling the tires plus mounting, alignment, and rotation services?
a. At the time of initial installation, Fassino's performs its obligation to provide both tires and initial mounting and alignment services. Pete's should recognize revenue for the portion of the $480 selling price applicable to the sale of tires and installation services at the time of installation. b. Fassino's should delay recognition of revenue for the portion of the $480 selling price applicable to the subsequent alignment and rotation services until it performs the required services. c. Fassino's should delay recognition of revenue from selling the tires plus mounting, alignment, and rotation services until it performs all of the required services at the end of the three year period. d. At the time of initial installation, Fassino's should recognize revenue for all of the $480 selling price applicable to the tires plus mounting, alignment, and rotation services. e. Both choices a and b are correct.
Crestfield leases office space for $6000 per month. On January 3, the company incurs $38,000 to improve the leased office space. These improvements are expected to yield benefits for 5 years. Crestfield has 2 years remaining on its lease. What journal entry would be needed to record the expense for the first year related to the improvements?
A. Debit Amortization Expense $19,000; credit Accumulated Amortization $19,000. B. Debit Depletion Expense $38,000; credit Accumulated Depletion $38,000. C. Debit Depletion Expense $19,000; credit Accumulated Depletion $19,000. D. Debit Amortization Expense $7600; credit Accumulated Amortization $7600. E. Debit Depreciation Expense $7600; credit Accumulated Depreciation $7600.