Which of the following principles best describes the rationale for matching administrative and selling expenses with revenues of the current period?
a. Direct matching
b. Systematic and rational allocation
c. Immediate recognition
d. Partial recognition
C
You might also like to view...
U.S. GAAP and IFRS require firms to account for minority, active investments, generally those where the investor owns between _____ using the equity method. Under the equity method, the investor recognizes as revenue (expense) each period its share of the net income (loss) of the investee. The investor recognizes dividends received from the investee as a return (reduction) of investment, not as
income. a. 10% and 50% b. 20% and 50% c. 30% and 50% d. 40% and 60% e. 50% and 60%
Answer the following statements true (T) or false (F)
1. A manager in a country with high power distance might prefer a controlling strategy and behave like an autocrat. 2. Hofstede’s dimensions of cultural differences are similar for countries that are geographically close together. 3. Collectivism is evidenced by people taking care of only their immediate families. 4. Denmark, Sweden, and Norway are considered masculine societies, according to Hofstede.
Restitution does not require a return of value to the aggrieved party
Indicate whether the statement is true or false
Duty-free status is granted to Caribbean nations, including Cuba under the guidelines of both CBERA and the GSP
Indicate whether the statement is true or false