Unearned revenues are generally:
A. Recorded as an asset in the accounting records.
B. Liabilities created when a customer pays in advance for products or services before the goods or services are delivered.
C. Revenues that have been earned and received in cash.
D. Increases to common stock.
E. Revenues that have been earned but not yet collected in cash.
Answer: B
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It is unlikely that greater control by shareholders will lead to greater corporate social responsibility because:
A. many shareholders have access to the information necessary to closely monitor the noneconomic performance of a company. B. shareholders will have the power to adopt resolutions binding the corporate managers. C. there is a definite chance that the values of "ethical" shareholders would be representative of society as a whole. D. many shareholders are motivated by profit maximization and are unlikely to approve corporate actions contrary to that end.
What is the last stage in the current (default) model that most organizations typically use for dealing with fraud?
a. Fraud incident b. Resolution c. Investigation d. Action
An exclamation mark can be used to express __________________
a. boredom b. excitement c. regret d. familiarity
Stark enters into a contract with a contractor to build a large shopping mall in River City. Donner will greatly benefit from this contract since his convenience store is adjacent to the mall. Donner in this instance is:
a. an implied beneficiary. b. a partial beneficiary. c. a donee beneficiary. d. an incidental beneficiary.