The adjusting entry process is completed to account for all revenues of the period and all expenses of the period. Completion of this step in the accounting process is required under which accounting principle?
a. Cash principle
b. Historical cost principle
c. Matching principle
d. Debit principle
e. All of the above
c
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Marketers can obtain needed information from internal data, marketing intelligence, and marketing research. Describe some common sources of each
What will be an ideal response?
On January 1, Eastern College received $1,200,000 from its students for the spring semester that it recorded in Unearned Tuition and Fees. The term spans four months beginning on January 2 and the college spreads the revenue evenly over the months of the term. Assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on February 28?
A. $800,000. B. $1,200,000. C. $600,000. D. $900,000. E. $300,000.
It is important to record the facts of an interaction with a customer in CRM software but not your conclusions, because:
A) it is never appropriate to make conclusions from data without consulting the research department B) recording conclusions is a breach of ethics C) coworkers could use this information to sabotage your sales D) this information could become available to the customer in the future E) the competition has access to the same databases you do
Simon owns a property. He may not destroy its value to future holders. After his death, the property will pass to Rachel. Which of the following interests in real property does Rachel have?
A) life estate B) future interest C) conditional estate D) fee simple absolute