Which of the following is not one of the pension expense components that a company recognizes?
A) expected return on plan assets
B) service cost
C) amortization of prior service cost
D) administrative cost
D
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Estimating and recording product warranty expense in the period of the sale best follows which of the following accounting concepts?
A) Cost concept B) Business entity concept C) Matching Concept D) Materiality concept
Pixie files a suit against Quiver. Before going to trial, the parties meet, with their attorneys to represent them, to present their dispute to a third party who is not a judge but who imposes a resolution on the parties. This is
A. arbitration. B. mediation. C. negotiation. D. not a legitimate form of dispute resolution.
A minor may disaffirm a contract
a. at any time up until a reasonable time after reaching majority. b. only after reaching majority. c. but must do so before reaching majority. d. if it is for necessaries.
Masterview, Inc. purchased a new computer system, which included some computer programs. When Masterview developed financial troubles, two competing creditors of Masterview claimed the right to repossess the computer system and the programs. The UCC distinguishes "software" from "goods" and treats them differently for some purposes, which would be important in this situation.
Answer the following statement true (T) or false (F)