The most liquid asset for a firm is marketable securities that can be sold very quickly

Assume Mercy Hospital uses accrual accounting. Which of the following statements is most correct?

A. Supplies expense is recognized when medical supplies are delivered to the hospital by the vendor. B. Patient service revenue is recognized when payment is received by the hospital from a third-party payer. C. Salaries expense is recognized when payroll checks are written. D. Patient service revenue is recognized when healthcare services are provided. E. Statements A., C., and D. are all correct.

A listing terminates upon expiration of the listing agreement, and the broker has no further obligations even if the property is under contract.

a. true b. false