Employees at TynsCorp are able to submit receipts for certain out-of-pocket health care expenses and TynsCorp will pay them back for those items. What type of account has TynsCorp set up?
A. A flexible spending account
B. A health reimbursement account
C. A health care spending account
D. A workers' compensation account
Answer: B
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What does the phrase, "Revenue is recognized at the point of sale" mean?
a. Revenue is recorded in the accounting records when the goods are received from a supplier, and reported on the income statement when sold to the customer. b. Revenue is recorded in the accounting records and reported on the income statement when the cash is received from the customer. c. Revenue is recorded in the accounting records when the goods are sold to a customer, and reported on the income statement when the cash payment is received from the customer. d. Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer.
Ron uses his status message on his Facebook account to invite his friends to buy his desktop computer. His friend Carl is interested and calls Ron to express his interest. Ron tells him that he is selling the computer for $400
Carl offers to pay $350 and Ron accepts the offer. They decide to complete the sale after three days. The next day, Ron puts up another update on his Facebook account stating he has decided not to sell his computer. Which of the following describes Ron's action of deciding not to sell his computer? A) revocation B) rejection C) counteroffer D) unequivocal acceptance
Events are mutually exclusive if one, and only one, can occur at a time
Indicate whether this statement is true or false.
Structured methodologies result in more reliable systems
Indicate whether the statement is true or false