Answer:
A. Credit to Unearned Management Fees for $83,000.
Explanation:
When an amount is received in advance for a service yet to be rendered, the company recognizes a liability by debiting cash account and crediting unearned revenue.
As the service is performed and revenue is earned, debit unearned revenue and credit service revenue.
In this instance , the liability account is the unearned management fees. As such, the amount received is posted there as a credit entry.
Answer:
d. It recognizes that manufacturing and service delivery systems must execute quality specifications well.
Explanation:
GAP provides for better performance and accounting standards.
Whether manufacturing unit, or a unit of providing service, it establishes some standards which need to be complied with. Accordingly one of the standard requires the units to have quality specifications. This means that the manufacturing units along with units providing service shall not only consider for increasing their revenue, but also increase the quality provided by them.
Answer:
Wendy sues her employer to recover the $10,000 bonus, the likely result will be that Wendy will lose the case.
Explanation:
Wendy had the highest total dollar value of sales for all salesperson in the company in the first quater, then Wendy's boss said he will pay Wendy a $10,000 bonus on Wendy's next paycheck based on the first quarter sales but Wendy did not receive any bonus when her next paycheck was due. If Wendy decides to sue the company she will lose the case and the $10,000 bonus will not be given to her because she did not consider the total work done since the chances of her receiving the bonus depends on the first quater sales made.
Thinking summarizes the operating, financing and investing activities of an entity
Answer:
C
Explanation:
the manager should not have included the names because even though they were newly appointed, individuals join and leave and the company.
The manager made a mistake including the names of the individuals assigned to the roles and responsibilities, because these individuals were newly appointed and although they have played an active role in reviewing and providing feedback on the policy people join companies at anytime and also have the choice of leaving whenever they want.