Provide an explanation for each of the follow liability accounts
Account Name Explanation
Accounts Payable
Accrued Liability
Unearned Revenue
What will be an ideal response
Account Name Explanation
Accounts Payable A promise made by the business to pay a debt in the future. Arises from a credit purchase.
Accrued Liability An amount owed but not paid.
Unearned Revenue Occurs when a company receives cash from a customer but has not provided the product or service. The promise to provide services or deliver goods in the future.
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PepsiCo experienced great success in Latin America with its Numeromania contest, which lured consumers by promising big cash prizes. They used the same contest in Poland successfully. This shows that:
A) Numeromania can be used in different languages. B) Numeromania can be used in cash starved countries. C) leverage experience gained in one country can be used in another country. D) economically squeezed consumers love Pepsi. E) Numeromania helped in developing a taste for Pepsi in both countries.
Which of the following factors will hinder the integration of expatriate staff with local staff?
A) knowledge sharing B) headquarters mentality C) overseas experience D) cultural flexibility