An increase in a revenue account may reflect an increase in an asset account
a. True
b. False
Indicate whether the statement is true or false
True
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A company uses the percentage-of-completion method to account for a four-year construction contract. Progress billings sent in the second year that were collected in the third year would
a. be included in the calculation of the income recognized in the second year. b. be included in the calculation of the income recognized in the third year. c. be included in the calculation of the income recognized in the fourth year. d. not be included in the calculation of the income recognized in any year.
Answer the following statements true (T) or false (F)
In accounting, we presume that if rigid uniformity can be attained, it is superior to finite uniformity.
Which of the following is a potential negative factor for foreign investment in China?
A. China has imported fewer goods from the United States each year for the past decade. B. China's population is aging and is likely to continue to do so for many years. C. China drastically restricts the goods it allows U.S. companies to export to China. D. Chinese consumers are not interested in purchasing products from the United States. E. China's standard of living has dropped over the past 30 years.
Job satisfaction or dissatisfaction is an attitude that reflects the
A. level of cognitive dissonance an individual experiences in a job. B. extent to which an individual is gratified by or fulfilled in his or her work. C. individual's identification with and attachment to the organization. D. level of commitment the individual has to the job itself. E. individual's tendency to be positive or negative when the work presents unknown variables.