Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the ________ aspect of services
A) inseparability
B) intangibility
C) variability
D) perishability
E) heterogeneity
B
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Which of the following is not true for an operating segment according to U.S. GAAP?
A. Discrete financial information generated by the internal accounting system is available. B. The segment is regularly reviewed by a chief decision maker to make resource allocations. C. The segment recognizes revenues and incurs expenses. D. An organizational unit cannot be an operating segment if all of its operating transactions are only with other segments of the organization. E. The segment is regularly reviewed by a chief decision maker to assess performance decisions.
For public companies reporting under Sarbanes-Oxley, the auditor reports on the firm's internal controls in addition to the audit report
Indicate whether the statement is true or false
Your social identity is made up of which of the following?
a. Your Facebook and Twitter accounts. b. Your social footprint and lifestream. c. Your handle and RSS feed. d. Your digital brand name and digital primacy. e. All of the above.
Assume that no dividends were declared during the current year. Which of the following statements about the effect of a net loss on the closing process is correct?
A. When closing entries are prepared, Common Stock is debited if a company has a net loss. B. If a company has a net loss, the closing entry will include debits to the revenue accounts, credits to the expense accounts, and a credit to Retained Earnings. C. If a company has a net loss during the current accounting period, then the ending Retained Earnings will be smaller than the beginning Retained Earnings. D. If a company has a net loss, the amount of revenues to be closed will be greater than the amount of expenses to be closed in the closing process.