When accounting for long-term contracts (other than those for services), all of the following accounting methods may be acceptable with the exception of
A) the allocated completion method of accounting.
B) the completed contract method.
C) the percentage of completion method.
D) the modified percentage of completion method.
A) the allocated completion method of accounting.
Long-term contracts must be accounted for by using the percentage of completion method, the modified percentage of completion method, or, in certain circumstances, the completed contract method.
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Petty cash reimbursement requires a journal entry that involves a debit to the appropriate expenses and a credit to Cash.
Answer the following statement true (T) or false (F)
Answer the following statement(s) true (T) or false (F)
1. Elasticity of demand contributes to the bullwhip effect. 2. Channel alignment is a way to worsen the bullwhip effect. 3. An ethical problem that occurs in inventory management is charging higher prices for better quality products. 4. A problem that is signaled by inventory turnover is the use of poor quality inputs.
A project's net present value is equal to:
A. the present value of the expected future cash inflows minus the present value of all the cash outflows. B. the present value of the cash outflows plus the present value of cash inflows. C. the present value of the last cash inflow. D. the present value of all the expected future cash outflows. E. the present value of all the cash inflows after the full recovery of the initial investment.
Inventory affects ______.
a. customer satisfaction b. corporate strategies c. compliance with government regulations d. adherence to ISO specifications