Custom Realty Services sold a house for a client and will be paid a commission for its services. Using the SEC's four conditions or revenue recognition, explain why Custom Realty Services either should or should not recognize the revenue now
Custom Realty Services should recognize the revenue now because:
1. The company and the client agree that the customer owes for the service (pervasive evidence of an arrangement exists).
2. The service has been rendered (a product or service has been delivered).
3. Both parties understand the price (the seller's price to the buyer is fixed or determinable)
4. There is a reasonable expectation that the client will pay the bill (collectibility is reasonably assured).
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Employee benefits average ______ % of total employee compensation cost in U.S. organizations.
A. 18 B. 32 C. 45 D. 50
Self-managed teams do not need to coordinate their activities and decisions with others in the organization.
a. true b. false
____ is a theory that defines motivation as M = E times I times V, meaning that employees weigh the likelihood that various behaviors will achieve the desired goal which will lead to a desired reward.
a. McClelland’s achievement theory b. Herzberg’s theory c. Equity theory d. Expectancy theory
When investigating overhead variances, management needs to determine whether cost increases were controllable or if the cost standard needs to be updated
Indicate whether the statement is true or false