Consider the following events for Betterment Incorporated:January 1 Betterment purchases gasoline for $200 on account.January 7 Betterment advertises lawn mowing services for $100 per lawn.January 9 Betterment signs up 8 customers who pay a total of $800 cash.January 12 Betterment mows the lawns of the 8 customers and all gasoline purchased on January 1 is used.January 13 Betterment pays for the gasoline purchased on January 1.Under cash-basis accounting, what is the appropriate day to record the expenses related to the gasoline?
A. January 9.
B. January 12.
C. January 13.
D. January 1.
Answer: C
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a. Assets reported on the balance sheet b. All accounting information c. Cash flows d. Reliability
A company using very tight (high) standards in a standard cost system should expect that
a. no incentive bonus will be paid. b. most variances will be unfavorable. c. employees will be strongly motivated to attain the standards. d. costs will be controlled better than if lower standards were used.
Supervisors should have regular communication with employees about
a. The employee's personal lives b. The employee's financial situation c. The employee's job performance d. The employee's problems
A business that is concerned solely with the financial implications of alternate courses of actions
is applying which theory of the social responsibility of business? A) Moral minimum B) Maximizing profits C) Stakeholder interest D) Corporate citizenship