Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = I Decrease = D No Effect = NA (Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.)A transaction recorded as a debit to Accounts Receivable and a credit to a revenue account.AssetsLiabilitiesStk. EquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
(I) (NA) (I) (I) (NA) (I) (NA)
Debits increase asset accounts, such as accounts receivable, and credits increase revenue accounts, which in turn increase stockholders' equity (retained earnings).
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What item below is not an example of extrinsic rewards?
A. self-praise B. salary C. paid vacations D. bonuses
Which of the following is true?
A. Fees waived for graduate assistantships for which services are required are deducted directly from tuition revenue. B. Revenues for summer sessions are recorded in deferred revenues and recorded as revenue when the semester ends. C. Tuition and fees charged are included in income and the fees waived for graduate assistants are expensed. D. Scholarship allowances for which no services are required are expensed.
The ____________ or ____________ includes both the ____________ and ____________ of a service facility
a. roll; retrieval; implicit aspects; explicit aspects b. stage; servicescape; exterior; interior c. stage; service area; customers; employees d. roll; canopy; employees; equipment e. roll; service area; front-stage; backstage
Upward communication from lower organizational levels to management involves risk since it is generally feedback to downward communication
Indicate whether the statement is true or false