When is a retrospective adjustment considered impractical to make?
What will be an ideal response?
1) The company cannot determine the effect on prior periods even after reasonable effort has been made.2) The retrospective adjustment depends on management's intent and cannot be independently verified.3) There are significant estimates required but they cannot be objectively verified.
You might also like to view...
The closing section of a proposal should
A) ask for a decision from the reader. B) review costs. C) identify when each step of the proposal will be completed. D) describe the proposed solution in detail. E) include a list of client references.
Which of the following situations is not an example of a deferral?
A) Recording supplies consumed. B) Recording unrecorded, earned revenues. C) Recording depreciation. D) Recording the portion of prepaid rent that has expired.
Who argued, ‘creative systems are systems in tension and the price paid for creative potential is an unknown long-term future’?
a. Andy Van de Ven b. Karl Weick c. Ralph Stacey d. Ralph Wigham
A response to a neutral message should be organized in this order:
A) (1 ) apology, (2 ) good news, (3 ) explanation, (4 ) courteous closing. B) (1 ) explanation, (2 ) questions answered, (3 ) good news, (4 ) courteous closing. C) (1 ) explanation, (2 ) good news, (3 ) clichéd closing. D) (1 ) good news, (2 ) questions answered, (3 ) subtle company promotion, if appropriate, (4 ) courteous closing. E) (1 ) good news, (2 ) questions answered, (3 ) explanation, (4 ) good news reiterated in the closing.