The assumption that allows accountants to accept some inaccuracy, because of incomplete information about the future, in exchange for more timely reporting is:
a. conservatism.
b. time period.
c. business entity.
d. materiality.
e. realization.
B
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On December 1, 2018, Restaurant Equipment Company sold machinery to a customer for $25,000. The customer could not pay at the time of sale but agreed to pay 9 months later and signed a 9-month note at 11% interest. What was the total amount of cash collected by Restaurant Equipment on the maturity of the note? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $27,750 B) $27,063 C) $22,938 D) $2063
Many studies reveal that instead of "Americanizing" the world's cultures, the cultural exchange between America and other countries goes two ways. Give two examples of how America has been influenced culturally by foreign products or services
What will be an ideal response?
Liabilities are not a source of assets for a business.
Answer the following statement true (T) or false (F)
Mieko is a shareholder of Natural Gas, Inc Natural Gas uses cumulative voting to elect directors. This means that the number of Mieko's votes is determined by the number of
a. years that Mieko has been a shareholder. b. members of the board to be elected multiplied by the total number of voting shares that Mieko holds. c. shareholders present at the shareholders' meeting. d. shareholders' meetings that Mieko has attended.