Which of the following transactions would not create a temporary difference?
A. The accrual of bad debt expense.
B. The cash collection of interest earned on a municipal bond.
C. The cash payment to acquire a three-year insurance policy.
D. The accrual of warranty expense.
Answer: B
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All necessary amounts to prepare the balance sheet, including ending retained earnings, can be found in the Balance Sheet columns of the work sheet.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1. Sun owns a chain of car washes and is thinking of also opening some restaurants. If she does, this would be an example of unrelated diversification. 2. A company in a single line of business cannot conduct a business portfolio analysis. 3. Functional departments of a company must develop internal strategies for achieving the mission and objectives. 4. One of the main functions for the finance strategy is keeping records of transactions, developing budgets, and reporting financial results.
The strategic profit model (SPM) ______.
a. is also known as the Monsanto Model b. provides a visual representation of an organization’s financial performance c. analyzes the firm’s operations d. guides the firm’s corporate strategy
Pointing the index finger outward will often be interpreted as a sign of self-confidence
Indicate whether the statement is true or false.