FASB has set forth all of the following conditions for recognizing transfers of receivables as sales only if the following conditions of surrendering control of the receivables are met except:
a. The assets transferred have been isolated from the selling firm.
b. The buying firm obtains the right to pledge or exchange the transferred assets, and no condition both constrains the transferee from taking advantage of its right and provides more than a trivial benefit to the transferor.
c. The selling firm does not maintain effective control over the assets transferred through (a) an agreement that both entitles and obligates it to repurchase the assets or (b) the
ability to unilaterally cause the transferee to return specific assets.
d. A creditor of the selling firm can access the receivables in the event of the seller's bankruptcy.
D
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Audience members need to be provided with an answer to the question:
a. What do I already know about the speaker? b. What’s in it for me? c. What do I already know about the topic? d. Is the speaker’s tone appropriate?
Which is true?
A. The danger with lists is that they can become too complex and are then difficult to maintain and become counterproductive. B. Since customers are supposed to call the Service Desk for support, it is not important for analysts to set up Out of Office messages on their personal lines when they are gone. C. "What Coworkers Need to Know" lists are beneficial, as they keep analysts focused on upcoming training sessions. D. A "What I Need to Know" list is a list of all the things an analyst must memorize, as that information is used on a daily basis.
When a job is completed but not sold, the accounts affected are:
A) Raw Materials and Work-in-Process. B) Work-in-Process and Finished Goods. C) Work-in-Process and Cost of Goods Sold. D) Finished Goods and Cost of Goods Sold. E) Finished Goods and Overhead Control.
Jackson will be attending a professional conference in Vietnam. What should he do to try to enhance oral communication with his colleagues?
A) Assume that his colleagues will speak English well because it is so widely used around the world. B) Learn how to speak Vietnamese fluently. C) Assume that a yes, a nod, or a smile indicates comprehension. D) Listen without interrupting.