One of the historical problems facing P-O-P advertising is:
A) verification a display was used and displayed properly.
B) its extremely high cost.
C) lack of space in many stores.
D) delays in adapting new technologies to enhance their presence.
E) the space requirements of the displays.
A
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In Year 1, Costello Company performed work for a customer and billed the customer $10,000. In Year 2, the customer pays Costello Company for the services it rendered in Year 1. In Year 1, the company incurred $3,000 of wage expense, but it did not pay the employees until Year 2. If Costello Company uses the cash-basis of accounting, then it will report
A) revenue of $10,000 and expense of $3,000 in Year 2. B) revenue of $10,000 in Year 1 and expense of $3,000 in Year 2. C) no revenue or expenses in either year. D) revenue of $10,000 and expense of $3,000 in Year 1. E) revenue of $10,000 in in Year 2 and expense of $3,000 in Year 1.
The revenue, expenses, Sales Returns and Allowances, and Sales Discounts will be closed via the ________ account
A) Income Summary B) Retained Earnings C) Dividend D) Stockholders' Equity