Option B, The false statement from the given is, "Students rarely leave out of college because of financial difficulties".
<u>Explanation:
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Undergraduate students may open up job opportunities, but certain students may not bear costs. Student loans are not a prime opportunity to fund a university degree, and credit can be a far bigger burden for dropping-out graduates.
It can be a challenge with two reasons not to hold the student loan debt going after leaving: interest and late payments and the effect on credit. Interest and late charges will continue to increase the overall balance owed by student loans over time. When a student who has withdrawn is prepared to handle his debt, he or she may face a tougher challenge than expected.
Answer: Overstated, no effect, Overstated
Explanation:.
Since there's a double counting, this will lead to the overstating of the inventory which brings about an increase in the asset.
On the other hand, there's no effect on the liability. Lastly, the stockholder's equity is overstated as well as there's an increase the net income due to the overstated inventory.
Answer:
Harold will include the entire amount of each annuity payment in gross income after he recovers the cost of the annuity.
Answer:
The Eight Steps for Organizational Develpoment Intervaentions
Explanation:
Entry Signals
Purpose
Assessment
Action Plan
Intervention
Evaluation
Adoption
Seperation
... i think
Answer: B. Record revenue that will be received in cash in a subsequent period.
Explanation: Accrual Accounting is a method that records transactions when they have inccured. Instead of when the cash is exchanged.
A. Incorrect. Impossible to record in earlier periods. As the past financial statements from previous years have already been closed off.
B. Correct. Accrued accounting entails recording the transaction when it has occurred. So the cash will be recorded as received. However the cash will only be transferred to the revenue account when the obligation has been met. Therefore it will only be transferred to revenue in the period that it applies to.
C. Incorrect. This is already general expense and general accounting rules apply. I.e. The expense is incurred in the same year and paid out in the same year. This is how most income and expenses are treated, except for prepaid and accrual income and expenses.
D. Incorrect. This is an example of a prepaid expense. Prepaid expenses are expenses that have already been paid even though they haven't been inccured yet. This is an asset, and is thus recorded on the debit side.