Clarion Corp invested cash in a 6-month certificate of deposit (CD) on November 1, 2016 . If Clarion Corp has an accounting period that ends on December 31, 2016, when should Clarion recognize interest revenue from the CD?
a. On December 31, 2016 only
b. On May 1, 2017 only
c. Both December 31, 2016 and May 31, 2017
d. On the date when its income tax return is filed
c
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All states have enacted some form of an administrative procedure statute
a. True b. False
Smith & Jones, Accountants, agrees to perform an audit forBrick & Mortar Stores, Inc Whether or not this agreement meets all of the requirements of a contract, the parties are likely to follow the rules of contract law because they
a. want to avoid potential disputes. b. are conscious of those rules. c. arenot conscious of those rules. d. have a moral obligation to do so.
A master recording of a music track is not as expensive as the rights to use the musical composition of the track.
Answer the following statement true (T) or false (F)
A chart for a normally distributed random variable shows that one sample mean is outside the control chart limits. The probability that this happened by chance is:
a. 0.9554. b. 0.5000. c. 0.9974. d. 0.0300 e. 0.0026