The term "restricted" as used in university accounting refers to a constraint on the use of funds which has been:I. internally imposed. II. externally imposed.
A. Neither I nor II
B. II only
C. I only
D. Either I or II
Answer: B
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Mexican customers generally carry small coins. To keep prices of shampoo and detergent below 11 or 12 pesos, Procter & Gamble is using which method of pricing?
A) price bundling B) target costing C) cost-plus approach D) export price costing E) cost-based pricing
On May 1 . 2014, Lavender Construction Company entered into a fixed-price contract to construct an apartment building for $3,000,000 . Lavender appropriately accounts for this contract under the percentage-of-completion method. Information relating to the contract is as follows: 2014 2015 At December 31: Percentage of completion ........ 20% 60% Estimated costs at completion ... $2,250,000
$2,400,000 Income recognized (cumulative) .. $ 150,000 $ 360,000 What is the amount of contract costs incurred during the year ended December 31 . 2015? a. $600,000 b. $960,000 c. $990,000 d. $1,440,000
________ is a ranking of individuals into harmonized groups based on demographic characteristics such as age, education, income, and occupation.
A. Household life cycle (HLC) B. Reference group C. Social class D. Classical conditioning E. Operant class
_____ refers to the inability of services to be stored, warehoused, or inventoried
a. Variability b. Irreversibility c. Heterogeneity d. Perishability