A prompt promise to ship or prompt shipment of goods is a valid acceptance of an offer to buy goods for prompt or current shipment
Indicate whether the statement is true or false
True
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In 2016, the Puerto Rios Company received insurance proceeds of $300,000 payable upon the death of its previous top executive officer. For financial reporting purposes, Puerto Rios included the $300,000 in pretax accounting income. The life insurance proceeds are exempt from income taxes. Assuming an income tax rate of 35%, what should Puerto Rios report for this event as deferred income taxes in
the 2016 income statement of ? A) $0 B) $105,000 deferred tax asset C) $105,000 deferred tax liability D) $195,000 deferred tax liability
A control designed to ensure that no employee is paid for more than 80 hours of sick pay is an example of which type of control?
a. Entity-wide control. b. Processing control. c. Output control. d. Input control.
________ involves measuring the extraneous variables and adjusting for their effects through statistical analysis
A) Design control B) Statistical control C) Randomization D) Matching
Software can be rented or leased from a software vendor using the PMO model
Indicate whether the statement is true or false