New revenue recognition rules require that sellers report sales net of expected sales discounts.
Answer the following statement true (T) or false (F)
True
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Which of the following is/are not true?
a. An employer must recognize changes in the funded status of a defined benefit retirement plan on its balance sheet each period. b. U.S. GAAP and IFRS require the employer to recognize changes in the funded status of a defined benefit retirement plan immediately in net income. c. Changes in the net funded status of a defined benefit retirement plan because investment performance differs from expectations, or because of changes in actuarial assumptions, or in the retirement benefit formula, initially affect other comprehensive income. d. Firms amortize the amounts in Other Comprehensive Income over the expected period of benefit as an adjustment to retirement plan cost. e. all of the above
A clause in a contract in which the parties specify certain events that will excuse nonperformance is known as a(n) ________.
A. approval clause B. express condition C. force majeure clause D. implied-in-fact condition
Traditionally, a professional owed a duty only to those with whom the professional had a direct contractual relationship
Indicate whether the statement is true or false
Any Ba rated bond or lower would be considered speculative or "junk."
Indicate whether the statement is true or false