ISO 10006:2003 emphasizes quality assurance via preventive actions instead of just checking the final product, system or service
Indicate whether the statement is true or false
FALSE
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A profitable customer ________
A) yields a cost stream that exceeds by an acceptable amount his revenue stream B) yields a revenue stream that exceeds the company's cost stream C) yields a cost stream that exceeds the company's revenue stream D) yields a revenue stream that exceeds by an acceptable amount his cost stream E) yields a revenue stream that equals the company's cost stream
F & R Construction, Inc has consistently used the percentage-of-completion method of recognizing revenue. Last year F & R started work on a $5,000,000 construction contract, which was completed this year. The accounting records disclosed the following data for last year: Progress billings ..................................... $1,500,000 Costs incurred
1,350,000 Collections ........................................... 1,050,000 Estimated cost to complete ............................ 2,600,000 How much revenue should F & R have recognized on this contract last year? a. $1,500,000 b. $1,700,000 c. $1,100,000 d. $400,000
What type of media comes from publicity gained via a brand-controlled source such as a website, blog, or Facebook page?
A. earned media B. paid media C. owned media D. sponsored media E. published media
The year-end adjusted trial balance of Gordon Produce for the current year, is shown below:GORDON PRODUCEAdjusted Trial BalanceDecember 31?DebitCreditCash$ 1,500?Store supplies500?Merchandise inventory11,000?Store equipment18,000?Accum. depr.-store equipment?$ 3,000Accounts payable?6,000Common stock?10,000Retained earnings?40,000Dividends22,000?Sales?60,500Cost of goods sold48,000?Depreciation expense-Store equipment1,000?Store supplies expense1,500?Salaries expense14,000?Rent expense2,000??$119,500$119,500Prepare closing entries at December 31 for the current year.
What will be an ideal response?