Which one of the following adjustments decreases net income for the period?
a. Recognition of depreciation on plant assets
b. Recognition of interest on a note receivable
c. Recognition of services that had been provided to customers but the cash has not yet been received
d. Recognition of rent as earned that had been received in advance from customers
a
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O'Hare Company is a manufacturing firm that uses a job-order costing system to determine the costs of its products. During the current accounting period, O'Hare recognized depreciation of $600 on manufacturing equipment. Which of the following describes the effect of this event on the accounting equation?
A. Total assets and net income decrease. B. Total assets increase and net income increase. C. Total assets and total equity are unaffected. D. Both total assets and total equities increase.
How realistic was Nokia’s aim to achieve the equivalent high volume output of smart-phone handsets as it presently does of basic devices? Can it do so and sustain a differentiated market position?
What will be an ideal response?
The ________ is a derivative forward contract that was created in the 1990s
It has the same characteristics and documentation requirements as traditional forward contracts except that they are only settled in U.S. dollars and the foreign currency involved in the transaction is not delivered. A) nondeliverable forward B) dollar only forward C) virtual forward D) internet forward
If we draw a straight line through the points in a scatter diagram and most of the points fall close to the line, there must be a positive relationship between the two variables
Indicate whether the statement is true or false