A customer's promise to pay in the future for services or goods sold is called a(n) ________
A) Accounts Receivable
B) Accounts Payable
C) Unearned Revenue
D) Notes Payable
A
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Consumers who always are on the lookout for novel products or services and who are first to try something new are ________
A) continuous innovation B) early adopters C) innovators D) laggards
Par value or stated value is arbitrarily set when stock is authorized
Indicate whether the statement is true or false
Recording estimated product warranty expense in the year of the sale best follows which of the following accounting principles?
a. Matching b. Consistency c. Historical cost d. Full disclosure
_____ measure the inflows of assets (or reductions in liabilities) from selling goods and providing services to customers
a. Revenues b. Expenses c. Cash inflows d. Cash-outflows e. Shareholder equity