Revenues are recorded the same under accrual and modified accrual accounting. The difference in the two methods applies only to expenses/expenditures.
Answer the following statement true (T) or false (F)
False
Revenues follow different recognition criteria between the two bases. Accrual accounting recognizes revenues when they are earned and recognizes expenses when the related goods or services are used up. Under modified accrual accounting, revenues are recorded when they are both measurable and available to finance expenditures of the current period. Expenditures, not expenses, are recognized in the period in which the fund liability is incurred.
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Describe the three different levels of a product
What will be an ideal response?
When a firm uses mass communication, feedback is rapid.
Answer the following statement true (T) or false (F)
Which of the following statements about the political environment is true?
A. A recession is part of the political environment. B. A country is either socialistic or capitalistic, but never both. C. The countries with the least across-the-board regulations and political structures foster the strongest economies. D. The European Union is purely an economic arrangement and has no political impact on marketing. E. All of these statements about the political environment are true.
France's assessment of criminal liability for corporations differs from the U.S.'s assessment in that:
a. the requirement that individuals play a key function within a corporation's decision-making structure before liability attaches significantly restricts corporate criminal liability b. the requirement that individuals play a key function within a corporation's decision-making structure before liability attaches significantly increases corporate criminal liability c. the requirement that individuals play a key function within a corporation's decision-making structure before liability means that there is no corporate criminal liability d. it has no requirement that individuals play a key function within a corporation's decision-making structure before liability attaches e. none of the other choices are correct