Live Wire Hot Rod Shop follows the revenue recognition principle. Live Wire services a car on July 31. The customer picks up the vehicle on August 1 and mails the payment to Live Wire on August 5. Live Wire receives the check in the mail on August 6. When should Live Wire recognize the revenue?
A. July 31
B. August 1
C. August 5
D. August 6
Ans: A. July 31
Business
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a. dominator b. special-interest pleader c. joker or clown d. blocker e. evaluator-critic
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Social media such as blogs and social networking permits consumers to:
A. obtain discounts on the brands they endorse on their blogs. B. obtain free Internet access that is supported by brand ads. C. create content about brands whether marketers like it or not. D. contact the manufacturer directly about warranty issues. E. become authorized virtual brand agents for the product manufacturers.
Business