According to the catering theory, firms cater to the preferences of ________.
A) investors
B) creditors
C) managers
D) government
A) investors
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Computer programs are intellectual property
Indicate whether the statement is true or false
On April 1, 2019, Orbit Services received $8000 in advance of performing the services from a customer for three months of service — April, May and June. What would be the journal entry to adjust the accounts at the end of May? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
A) Debit Service Revenue $2667, and credit Unearned Revenue $2667. B) Debit Unearned Revenue $5333, and credit Service Revenue $5333. C) Debit Unearned Revenue $8000, and credit Service Revenue $8000. D) Debit Service Revenue $5333, and credit Accounts Receivable $5333.
Shane, a sales manager, remarked that typically, her employees sincerely and positively overstate their job performance and abilities. This is an example of the ____ effect.
A. overstatement B. motivated blindness C. holier-than-thou D. cheating E. fudging
Under the accrual method, the timing of revenue recognition is influenced by when the services or product are provided
Indicate whether the statement is true or false