Recognizing revenues when measurable and available for paying current obligations and expenditures when incurred describes which basis of accounting?
A. Modified cash.
B. Modified accrual.
C. Budgetary.
D. Accrual.
Answer: B
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Changes in account balances of Multi-Plus Inc during 2012 were: Increase Assets $420,000 Liabilities 125,000 Capital Stock 100,000 Additional Paid-In Capital 140,000 Retained Earnings ? Assuming that there were no charges to retained earnings other than dividends of $62,000, the net income for 2010 was:
a. ($7,000) b. $55,000 c. $117,000 d. $257,000 e. none of the answers are correct
Identify the attitude which leads to an unexamined life not worth living according to Socrates?
A. Cynicism B. Satisficing C. Passivity D. Narcissism
If firms expect to receive cash more than one year after the time of recognizing revenue, they measure revenues at the present value of the amount of cash they expect to receive
Indicate whether the statement is true or false
Which of the following statements about learning curves is generally TRUE?
A) Management can decide to achieve a certain rate of learning. B) Learning curves were first quantified by the U.S. Postal Service. C) Using the "doubling" model, a learning curve with a rate of learning of 70 percent means the tenth unit takes 70 percent of the time that the twentieth unit will take. D) Learning curves are recognition of the concept that the time a task takes usually decreases with experience.