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marysya [2.9K]
3 years ago
5

The adjusting entry to record an accrued revenue is:

Business
1 answer:
Minchanka [31]3 years ago
8 0

Answer:

The correct answer is c. Decrease a liability; increase revenue.

Explanation:

For example a company receives advance of $ 500 against good to be deliver after one week. On receiving cash company will record following entry.

Debit Cash                      $ 500

Credit Revenue liability  $ 500

On date of sale or delivery following data will be recorded.

Debit Revenue liability    $ 500

Credit Revenue income  $ 500

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In connection with the element of monitoring, a CPA firm’s system of quality control ordinarily should provide for the maintenan
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Answer:C. Documentation to demonstrate compliance with its policies and procedures.

Explanation:CPA(CERTIFIED PUBLIC ACCOUNTANT) firm system of quality control is generally expected to provide and maintain documentation to demonstrate compliance with its policies and procedures.

Monitoring and evaluation by regulatory bodies essentially requires documented evidence to show compliance, the ISO(INTERNATIONAL STANDARDS ORGANISATION) makes it as part of it requirements for QUALITY MANAGEMENT SYSTEM (QMS) that all firms must document,record and maintain its activities, in a document for reference purposes and to show compliance to established standards and procedures.

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Both goods and services can be standardized for the mass market or customized to individual needs.
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The answer to this statement is True goods and services can be easily balanced and purchased at certain prices and if needed the prices will increase
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3 years ago
1. Large-denominated ($100,000 and over) time deposits 2. Noncheckable savings deposits 3. Currency (coins and paper money) in c
kicyunya [14]

Answer:

c.) 3 and 6.

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4 0
3 years ago
Earl and Mary form Crow Corporation. Earl transfers property, basis of $200,000 and value of $1,600,000, for 50 shares in Crow C
barxatty [35]

Answer: The correct answer is "c.Crow will have a business deduction of $120,000 for the value of the services Mary will render.".

Explanation: With respect to the transfers: Crow will have a business deduction of $120,000 for the value of the services Mary will render.

This is calculated by the difference between the value of the property contributed by Earl $1 600 000 and the value of the property contributed by Mary $1 480 000.

1 600 000 - 1 480 000 = $ 120 000.

4 0
4 years ago
For each of the scenarios below, determine whether you think it is likely that an employer could be discriminating against apers
mihalych1998 [28]

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This is not a case of discriminating against a person because of age, as we can see the young lawyer is better suited for a job in economic development as he already has worked on a development deal, where as the older lawyer is a litigator

A large retail outlet hires an 80-year-old woman to greet customers instead of a 30-year-old woman who has been greeting customers in other stores for a decade

This may be a case of age discrimination, because the 30 year old seems to be the better candidate, because she has experience in this work and will be more energetic than the 80 year old as well

The owner of a local, hip smoothie bar in a university town just fired a graduate student who had worked at the bar for three years and instead hired a college sophomore.

This may be a case of age discrimination because the employer is firing a graduate who has had 3 years of experience and hiring someone who hasn't graduated and has no experience

Explanation:

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4 years ago
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