Adjusting entries that are made to recognize revenue that has been received but not yet earned are classified as
A) estimates.
B) deferrals.
C) accruals.
D) revaluations.
B
Business
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On October 1, 2017, Mulcahy, Inc purchased a patent for $100,000 cash
Although the patent gives legal protection for 20 years, it is expected to be used for only eight years. Journalize the amortization expense for 2017. Assume straight-line amortization. What will be an ideal response
Business
In terms of international e-commerce, large merchandise is normally shipped by:
A) the company selling the merchandise B) shipping companies such as DHL, FedEx, or UPS C) freight forwarders D) the company purchasing the merchandise
Business