In order to match revenues and expenses properly, should the expense for employee vacation pay be recorded in the period during which the vacation privilege is earned or during the period in which the vacation is taken
Within Chapter 11 you have learned about various types of current liabilities such as: accounts and notes payable, payroll liabilities, and fringe benefit liabilities. Answer the following questions regarding what you have learned: In order to match revenues and expenses properly, should the expense for employee vacation pay be recorded in the period during which […]
Why companies are required to use the rule of lower of cost or market? What is “market” and how is it determined?
Why are ceiling and floor limitations on replacement cost considered necessary? Are adjustments required if market increases? Decreases? Which accounts are used to record inventory value adjustments? What is an Allowance for Decline in Value of Inventory? Why would a company choose to use the Allowance account instead of crediting Inventory account directly? Can you […]
When cash is received from a customer in payment for an account receivable, how are the elements of the accounting equation affected
A) Decrease assets (cash and increase assets (accounts receivable) B) Increase assets (cash) and decrease assets (accounts receivable) C) Increase assets and increase liabilities D) Increase assets and increase equity E) None of the above
You are going to take a trip to New York city for two weeks. You have a budget of US$7,000. Create a project plan for the journey.
For example, the list of tasks (work packages) might include such things as research flights and book flights. The key to building the Work Breakdown Structure (WBS), which is the basis of a project plan, is to get enough detail to manage the activities, but not so much as to require excessive time in measuring […]
The Toronto-Dominion Bank (TD Bank Group) – What is the difference between a Board Committee to that of a Board Task Force? Out of the two types (Board Committee or Task Force), which would be relevant to mitigate the risk?
Case Study: The Toronto-Dominion Bank (TD Bank Group) was one of the few large financial institutions in the world to have prospered during the financial meltdown and subsequent recession in 2008/9. It did this without any government assistance. Furthermore, it emerged from the crisis substantially larger in terms of market capitalization and assets while having […]