The ____________________ of accounting is a system in which revenues are recognized when payments are received and expenses are recognized when payments are made
Fill in the blank(s) with correct word
cash basis
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Stealth marketing occurs when:
A) firms intentionally design advertising or marketing campaigns to capitalize on a major sporting event B) a brand is associated with a major sporting event without any intentional or indirect effort on the part of the brand C) a brand suggests or hints it is associated with a major sporting event when it is not D) consumers are enticed to look at a product by individuals without the individuals realizing the person making the sales pitch is being paid or compensated by the brand
The Rameys are selling their home. They did not set forth in the sales agreement whether the washer and dryer, the draperies, and a cherry corner cabinet that was in the dining room were to be included in the sale or whether they were planning to take
these items with them. The buyers are claiming these items are fixtures and should stay with the house. The Rameys are claiming they are movable goods and they should not be part of the real estate which was sold. Define "fixtures," identify the tests used to determine whether an item is a fixture, and explain whether you think each of the contested items is a fixture and why or why not.
In February, one of the processing departments at Wyke Corporation had ending work in process inventory of $15,000. During the month, $264,000 of costs were added to production and the cost of units transferred out from the department was $273,000. The company uses the FIFO method in its process costing system. In the department's cost reconciliation report for February, the total cost to be accounted for would be:
A. $552,000 B. $288,000 C. $39,000 D. $576,000
In which of the following service situations would customers have the highest level of participation?
A. Eating at a local barbecue restaurant B. Attending a symphonic orchestra concert C. Traveling on an American airplane D. Taking self-defense classes E. Staying at a Marriott resort hotel