Which of the following is/are true?
a. Revenues from sales of goods or services to customers during a particular period do not necessarily equal cash received from customers during the same period.
b. The receipt of cash can precede, coincide with, or follow the recognition of revenue.
c. Expenses incurred to generate revenues during a particular period do not necessarily equal cash expended for the goods and services consumed in operations during the same period.
d. The expenditure of cash can precede, or coincide with, or follow the recognition of expenses.
e. all of the above
E
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Bonds Payable has a balance of $1,000,000 and Premium on Bonds Payable has a balance of $7,000. If the issuing corporation redeems the bonds at 101, what is the amount of gain or loss on redemption?
A) $3,000 loss B) $3,000 gain C) $7,000 loss D) $7,000 gain
__________ by administrative agencies provide a practical decision-making process for repetitive, frequent actions that are inappropriate to litigate in courts
a. De novo decisions b. Informal discretionary actions c. Formal rule making d. Informal rule making
The UCC imposes certain special business standards on casual and inexperienced sellers and buyers
Indicate whether the statement is true or false
The time spent watching and reviewing auction bids is a part of ________ costs
A) pricing B) monitoring C) delayed consumption D) fulfillment