Match the accounting principle or assumption that is most applicable to each of the following. Each term should be used only once
a. monetary-unit assumption
b. historical-cost principle
c. going-concern assumption
d. revenue-recognition principle
e. matching principle
_____ 1. Team Shirts reports assets valued at the original transaction price.
_____ 2. The expenses incurred by Team Shirts in March were subtracted from March revenues to calculate the profit for March.
_____ 3. Team Shirts reports the amounts on its financial statements in dollars.
_____ 4. Team Shirts reports amounts earned even though cash has not yet been collected.
_____ 5. Tom has plans to run Team Shirts indefinitely.
b, e, a, d, c
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The principal planning task for the IT department in an organization is to ________.
A) focus on quantity more than quality B) align IT and IS resources with the customer requirements C) integrate the organization's information systems with the outsourced vendors' information systems D) align IT and IS resources with the organization's competitive strategy
Some key reasons for CRM system flops in sales organizations include:
A. Lack of focus B. Complicated procedures C. Minimal buy-in D. Business units are silos E. All of the above