The margin deposit associated with the purchase of a futures contract
A) is a partial payment on the contract with the amount of the payment equal to 10% or more of the contract value.
B) represents the purchasers equity in the contract with the balance of the contract financed with borrowed funds at the margin rate of interest.
C) is related to the value of the item underlying the contract.
D) is used to cover any loss in market value of the contract resulting from adverse price fluctuations.
Answer: D
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Which of the following is not a common characteristic of successful control systems?
A. Results oriented B. Realistic C. Encouragement of self-control D. Flexible E. Emphasis on accountability
Beacons are useful to retailers of all sizes because they
A. use virtual reality to enhance the shopping experience. B. allow customers to scan merchandise to receive discounted prices. C. track customers' locations throughout the store. D. allow customers to use their phones to check out. E. send real-time messages and offers to customers.
All of the following statements are true regarding accounting for software development costs except:
a. Firms must expense as incurred all costs incurred internally in developing computer software until such development achieves the technological feasibility of a product. b. Firms must capitalize as incurred all costs incurred internally in developing computer software. c. Researchers have found a significant association between costs and future earnings which support capitalizing and amortizing product development costs permitted by U.S. GAAP and IFRS. d. The interpretation of the meaning of technological feasibility has created diversity in the practice of accounting for software development costs.
When a transaction results in an account with a balance that isn't "normal," the "abnormal" balance should be corrected to the "normal" balance before copying the balance into the trial balance
Indicate whether the statement is true or false