Under the cash basis of accounting, revenues are recognized when cash is received, regardless of when it is earned
a. True
b. False
Indicate whether the statement is true or false
True
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During a strike, the employer loses production unless it can hire replacement workers, and even then, productivity may be reduced.
Answer the following statement true (T) or false (F)
A patent is amortized over its expected useful life or 20 years. The expected useful life can be impacted by all of the following except
A) a unsuccessful lawsuit against a competitor. B) the federal government renewing the original patent. C) technical innovations by a competitor. D) product improvements by the patent holder.
The future value of an ordinary annuity is determined immediately after the last cash flow in the series occurs
Indicate whether the statement is true or false
An Employer Identification Number (EIN) is obtained by the employer from the
a. CIA; b. IRS; c. Federal Reserve Bank; d. state bank; e. state employment office