Events that occur after the December 31, 2008 balance sheet date (but before the balance sheet is issued) and provide additional evidence about conditions that existed at the balance sheet date and affect the realizability of accounts receivable should be
A. Discussed only in the MD&A (Management's Discussion and Analysis) section of the annual report.
B. Disclosed only in the Notes to the Financial Statements.
C. Used to record an adjustment to Bad Debt Expense for the year ending December 31, 2008.
D. used to record an adjustment directly to the Retained Earnings account
Ans: C. Used to record an adjustment to Bad Debt Expense for the year ending December 31, 2008.
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A controlled system is characterized by:
A. reliance on the forces of supply and demand to determine what is produced. B. reliance on the government to determine what is produced and who gets the output. C. an extremely rapid rate of economic growth. D. freedom of choice and freedom of competition.
Delivering your presentation by reading it word-for-word is a good idea whenc
A) your presentation is very lengthy. B) you're covering policy statements or legal documents that must be presented verbatim. C) the presentation is humorous. D) the audience is hostile. E) you are nervous.