Identify which basic principle of accounting is best described in each item below.
(a) Norfolk Southern Corporation reports revenue in its income statement when the performance obligation is satisfied instead of when the cash is collected.
(b) Yahoo! recognizes depreciation expense for a machine over the 2- year period during which that machine helps the company earn revenue.
(c) Oracle Corporation reports information about pending lawsuits in the notes to its financial statements.
(d) Gap, Inc. reports land on its balance sheet at the amount paid to acquire it, even though the estimated fair value is greater
Answers: 1
Business, 22.06.2019 08:30, dezmondpowell
Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price
Answers: 1
Business, 22.06.2019 13:50, xcoder1732
Suppose portugal has 700 workers and 26,000 units of capital, and france has 18,000 workers and 700 units of capital. technology is identical in both countries. assume that wine is the capital-intensive good and cloth is the labor-intensive good. which of the following statements is correct if the nations start trading with each other? a) wages will increase in portugal. b) rental rates in france will increase. c) wages in france will decrease. d) rental rates in portugal will increase.
Answers: 2
Identify which basic principle of accounting is best described in each item below.
(a) Norfolk Sout...
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