In November, cash is received in advance of rendering services. Assuming that the services have been performed by December 31, the adjusting entry would be
a. Unearned Service Revenue – Debit; Cash – Credit
b. Cash – Debit; Service Revenue – Credit
c. Unearned Service Revenue – Debit; Service Revenue – Credit
d. Service Revenue – Debit; Prepaid Services – Credit
C
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The income statement typically provides information about the operating results of business segments
Indicate whether the statement is true or false
The federal government has just passed a law which makes it an offence for anyone to publicly declare that there is no God. The stated purpose of the law is to ensure that Canada remains a Christian oriented society
Which of the following statements best describes the correct legal position? A) The law cannot be justified under section 1 of the Charter unless there are reasonable criminal penalties for a violation B) The law violates section 2 of the Charter but can be justified under section 1. C) The law cannot be justified under section 1 because the objective of the law is not reasonable D) The law can be legal if all provinces also agree to it E) The law does not violate any provision of the Charter
The UCC's purpose is:
a. to give each state a unique set of trade laws b. to mediate international business disputes c. to simplify, clarify and modernize the law governing commercial transactions d. to reduce taxes e. to make it easier to prosecute parties who breach contracts
The Food, Drug and Cosmetics Act was passed in:
a. 1906 b. 1927 c. 1938 d. 1940 e. 1950