Under modified accrual accounting, property tax revenue should be recognized when measurable and available; available means collected no more than 90 days after year-end.

Answer the following statement true (T) or false (F)


False

Revenue recognition occurs when the resulting resources are deemed to be both measurable and available to finance expenditures of the current period. Property taxes collected within 60 days after the end of the fiscal year may be deemed to be available and recorded as revenue in the year assessed rather than the year collected.

Business

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a. disclose the computation of book value per share of stock. b. budget the transactions expected to occur during the forthcoming period. c. replace the statement of retained earnings. d. summarize the changes in the components of stockholders' equity for a period of time.

Business

Which of the following is a characteristic of the standard normal probability distribution?

A. The mean, median, and the mode are not equal B. The distribution is not symmetrical C. The standard deviation must be 0 D. The standard deviation must be 1

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Which of the following is not classified as a qualitative forecasting model?

A) exponential smoothing B) Delphi method C) jury of executive opinion D) sales force composite E) consumer market survey

Business