A magazine publisher has an account called "Unearned Subscription Revenue." The transaction that causes the balance of this account to decrease is:
A. magazines are printed for the publisher.
B. magazines are mailed to subscribers.
C. cash is received from new subscribers.
D. subscriptions are sold to new subscribers.
Answer: B
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The fraud triangle has three components. Which of the components must be present for a fraud to occur?
a. All factors must be present for fraud to occur. b. All factors need not be present. c. Fraud can occur if any one of the factors is present. d. None of the above
Treasury shares plus outstanding shares equal
A) unissued shares. B) subscribed shares. C) authorized shares. D) issued shares.
What is the purpose of the Foreign Corrupt Practices Act?
What will be an ideal response?
Which of the following journal entries would be used to record direct labor costs in a company having two processing departments (Department A and Department B)?
A.
| Work in Process-Department A | XXX | |
| Work in Process-Department B | XXX | |
| Salaries and Wages Payable | XXX |
B.
| Salaries and Wages Expense | XXX | |
| Salaries and Wages Payable | XXX |
C.
| Salaries and Wages Payable | XXX | |
| Work in Process | XXX |
D.
| Work in Process | XXX | |
| Salaries and Wages Payable | XXX |