Answer:
The correct answer is letter "C": The adjusting entry for deferred revenues increases revenues and decreases liabilities
Explanation:
Deferred Revenue is accrued payments that a corporation collects for goods or services that it has not yet produced or dispatched. Another term for deferred revenue is unearned revenue. Whereas normal payments for goods or services are recorded as revenue on the company's Income Statement, deferred revenue is recorded as a liability until the product is shipped.
For accounting purposes, <em>the adjusting entry for the deferred revenue by increasing an asset account (cash) with a debit and by increasing a liability account (unearned revenue) with a credit.</em>
Answer:
$525,000
Explanation:
The amount to be recognized as research and development expense for the year includes the cost of research and development services performed by Key Corp. for Orr, the cost incurred on testing of pre-production prototypes and models as well as the cost of testing in search for new products or process alternatives,
In other words, all costs incurred would be expensed since no of them met the capitalization criteria as per generally acceptable accounting principles
Answer:
a. liable for negligence or mismanagement.
Explanation:
Given that,
The cost of the improper loans = $100,000
Since the director of the Super Service Station Corporation does not attend a board meeting for three years plus the president Twyla had done the improper loans that reflect the mismanagement as without knowing the credit history of the people how it could make the loans.
Moreover, there is no guarantee of returning the money so he is totally liable for his negligence or mismanagement
Answer:
True
Explanation:
The internal rate of return is a measurement utilised in capital planning to appraise the productivity of potential investment. The internal rate of return is a markdown rate that makes the net present worth of all incomes from a specific task equivalent to zero. If the NPV is zero the project is not feasible and if the NPV is zero or positive the investor should invest in that particular project
If a software package is purchased, consider a supplemental maintenance package which offers additional support and assistance from the vendor.
Supplemental maintenance with assist in future issues while using the software. These can range from not working correctly or just needing a few tips on how to use the software. Most companies that sell software or electronics, offer these.
