How should the balances of Progress Billings and Construction in Progress be shown at reporting dates prior to the completion of a long-term contract?
a. Progress Billings as income, Construction in Progress as inventory
b. Net, as income from construction if credit balance, and loss from construction if debit balance
c. Progress Billings as deferred income, Construction in Progress as a current asset
d. Net, as a current asset if debit balance and current liability if credit balance
D
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Exhibit 14-9 Hawk issued $200,000 of its ten-year 10% bonds for $224,924 on October 1, 2016. The effective rate on the bonds was 8% and interest is paid each October 1 and April 1. ? Refer to Exhibit 14-9. Assuming Hawk uses the effective interest method, the adjusting entry on December 31, 2016, would include
A) a credit to Premium on Bonds Payable for $502. B) a credit to Interest Payable for $4,498. C) a credit to Interest Payable for $5,000. D) a debit to Interest Expense for $5,498.
If you break the law in another country, you may
a. not call anyone other than a lawyer. b. only be tried for a crime according to the laws of your home country. c. ask the consulate for legal, medical, or financial advice. d. ask the consulate to get you out of jail.
The members of Generation X are also referred to as Digital Natives.
Answer the following statement true (T) or false (F)
Which of the following is NOT true under the Electronic Communications Privacy Act?
a. An intended recipient of an e-mail has the right to disclose it to third persons. b. ISPs are prohibited from disclosing the content of electronic messages to anyone other than the addressee, even if the disclosure is necessary for the performance of the ISP's service. c. An employer has the right to monitor workers' e-mail if the monitoring occurs in the ordinary course of business. d. An employer has the right to monitor workers' e-mail if the employer provides the computer system.