Which of the following statements about accrual basis of accounting is false?
a. companies r...
Business, 20.12.2019 06:31 zalyndevola
Which of the following statements about accrual basis of accounting is false?
a. companies record events that change their financial statements in the period in which events occur, even if cash was not exchanged.
b. companies recognize revenue in the period in which the performance obligation is satisfied.
c. the basis is in accordance with generally accepted accounting principles
d. companies record revenue only when they receive cash and record expense only when they pay out cash.
Answers: 2
Business, 22.06.2019 13:50
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Business, 22.06.2019 14:30
crow design, inc. is a web site design and consulting firm. the firm uses a job order costing system in which each client is a different job. crow design assigns direct labor, licensing costs, and travel costs directly to each job. it allocates indirect costs to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. direct labor hours (professional) 6,250 hours direct labor costs ($1,800,000 support staff salaries ,000 computer ,000 office ,000 office ,000 in november 2012, crow design served several clients. records for two clients appear here: delicious treats mesilla chocolates direct labor 700 hours 100 hours software licensing $ 4,000 $400 travel costs 8,000 1. compute crow design’s direct labor rate and its predetermined indirect cost allocation rate for 2012. 2. compute the total cost of each job. 3. if simone wants to earn profits equal to 50% of service revenue, how much (what fee) should she charge each of these two clients? 4. why does crow design assign costs to jobs?
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Business, 23.06.2019 04:00
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Business, 23.06.2019 08:00
Which of the following is a benefit of a hat? it has a sports team logo on it. it makes the wearer look cool. it is red. it costs $12.
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