Which of the following methods of accounting only recognizes revenue when cash is received for the services performed?
a. cash basis; b. accrual basis; c. service basis; d. merchandise basis; e. commercial basis
A
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Which of the following is not true concerning the recognition of unrealized gains and losses on foreign currency translation during the consolidation process?
a. Firms do not recognize these gains/losses in current income. b. Firms recognize these gain/losses in the statement of other comprehensive income c. Firms increase/reduce their investment accounts by the translation gains/losses d. Unrealized gains and losses increase/decrease other accumulated comprehensive income in shareholders' equity.
A disadvantage of the free cash flow valuation method is
a. The terminal value tends to dominate the total value in many cases. b. The projection of free cash flows depends on earnings estimates. c. The free cash flow method is not rigorous. d. The free cash flow method is not used widely in practice.
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory150 units @ $10.00 5Purchase220 units @ $12.00 10Sales 140 units @ $20.0015Purchase100 units @ $13.00 24Sales 90 units @ $21.00
A. $2,460 B. $2,590 C. $5,440 D. $2,860 E. $2,980
Distance delivery presentation methods are appropriate
a. for covering highly sensitive or confidential issues. b. for persuasive or problem solving meetings where no relationship has been established among participants. c. whenever participants are unfamiliar with the technology. d. when the costs in time, money, and human energy justify them.