LEARN MORE...

Basic Assumption of Accounting Notes

Content type

User Generated

Subject

Accounting

Type

Other

Uploaded By

Noolv

Pages

1

Showing Page:

1/1

BE2.8 (LO 3) Identify which basic assumption of accounting is best described in each

item below.

The economic activities of FedEx Corporation are divided into 12-month periods for

the purpose of issuing annual reports.------Periodicity

Solectron Corporation, Inc. does not adjust amounts in its financial statements for the

effects of inflation.------Monetary Unit

Walgreen Co. reports current and noncurrent classifications in its balance

sheet.------Going concern

The economic activities of General Electric and its subsidiaries are merged for

accounting and reporting purposes."------Economic Entity

BE2.10 (LO 4)Identify which basic principle of accounting is best described in each

item below.

Norfolk Southern Corporation reports revenue in its income statement when the

performance obligation is satisfied instead of when the cash is collected.

-----Revenue Recognition

Yahoo! recognizes depreciation expense for a machine over the 2-year period during

which that machine helps the company earn revenue. ------Expense Recognition

Oracle Corporation reports information about pending lawsuits in the notes to its

financial statements. ------Full Disclosure

Gap, Inc. reports land on its balance sheet at the amount paid to acquire it, even

though the estimated fair value is greater."-------Measurement

Sign up to view the full document!

Unformatted Attachment Preview

BE2.8 (LO 3) Identify which basic assumption of accounting is best described in each item below. The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports.------Periodicity Solectron Corporation, Inc. does not adjust amounts in its finan ...
Purchase document to see full attachment

Tags: basic assumption adjust amounts reports revenue Income Statement amount paid

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Studypool

4.7

Indeed

4.5

Sitejabber

4.4

24/7 Study Help

Stuck on a study question? Our verified tutors can answer all questions, from basic math to advanced rocket science!

Post question

3 pages

1. Outline 3 different comparisons an analyst may include when evaluating the performance of a An analyst can evaluate a c ...

1. Outline 3 different comparisons an analyst may include when evaluating the performance of a An analyst can evaluate a company’s performance by ...

11 pages

Business Question Revised

Actions, Errors, and Omissions Contributing to the Six Wrongful Death Complaints In the wrongful death complaint involving ...

Business Question Revised

Actions, Errors, and Omissions Contributing to the Six Wrongful Death Complaints In the wrongful death complaint involving Bhashar Quan, CapraTek's ...

IS 3310 Auburn University Montgomery Data Analysis and Statistical Tests Paper

"What other SAS or Excel statistical analyses or graphics could you have used that would improve your presentation and why ...

IS 3310 Auburn University Montgomery Data Analysis and Statistical Tests Paper

"What other SAS or Excel statistical analyses or graphics could you have used that would improve your presentation and why?"

Three Types of Electronic Health Records Questions

APA Format, introduction, MINIMUM OF 1800 WORDS, CONCLUSION, MINIMUM 5 RECENT REFERENCES. &n ...

Three Types of Electronic Health Records Questions

APA Format, introduction, MINIMUM OF 1800 WORDS, CONCLUSION, MINIMUM 5 RECENT REFERENCES. Log into Practice Fusion www.practicefusion.com, the free Internet based EHR Log into www.practicefusion.com and create an account as a student user Click on the help tab at the top and go to the meaningful use (mu) center and explore the resources available to help practices meet mu Explore the dashboard page too and see all the resources available including the templates available for clinicians & check out the specialties too Develop a table that critques three types of EHR’s to include the following: Names of systems Advantages and disadvantages HITECH standards How it protects patient privacy How it improves efficiency What settings they are best used in

Funding in Non Profits Organizational Non Profit Discussion

, suggest the optimal funding generating strategy for the chosen organisation. Introduce the topic of funding in non-profi ...

Funding in Non Profits Organizational Non Profit Discussion

, suggest the optimal funding generating strategy for the chosen organisation. Introduce the topic of funding in non-profits generally, outline the approach you recommend and then provide a full and detailed explanation of the approach, how specifically it will be implemented and a justification for why you suggest this particular approach

4 pages

Chapter 12 The Sarbanes

1. A enacted bill or law is authored to provide fairness and create harmony between parties. The enactment of the Sarbanes ...

Chapter 12 The Sarbanes

1. A enacted bill or law is authored to provide fairness and create harmony between parties. The enactment of the Sarbanes-Oxley Act was to promote ...

Similar Documents

Organizational Behaviour (MGT 301)

‫المملكة العربية السعودية‬ ‫وزارة التعليم‬ ‫الجامعة السعودية ا...

CSUGB Demolition Service Company Business Plan Report

Executive Summary (1 page) The Executive Summary is an overview of the Business Plan which is written last, after the othe...

Cultural & Business Etiquette

my topic is Japan. please get the introduction and answer the question1 and 2 .Guidelines (This is a TEAM Project):1. Why...

IS 312 California State University Customer Books for Rental Contracts Paper

Solve 3 questions from the word doc onto a word document. Question number 3 sent in separate image file, needs to go on s...

E-Commerce Project

College of Administrative and Financial SciencesECOM101 – E-commerceE-commerce Project (Part B)Second Semester 2021-2022...

Lipscomb University Tax Planning Strategies Memorandum

I am working on a case study and I have to create a tax projection which I have already completed. I have to write an emai...

Howard Street Jewelers Work

The first internal control concept that was ignored by Levis in the excerpt is segregation of duties. In any well-structur...

Spend management class lectures_41906471-Nursing-Lectures-Cardio

uploads/services/161584/Spend management class lectures_41906471-Nursing-Lectures-Cardio.pdf...

Case Study Analysis For Business Strategy

Uber has been operating since 2009 after it was invented by the Travis and Garrett camp. Since 2009, the operation of uber...

Study help

Our tutors provide high quality explanations & answers.

Post question

3 pages

1. Outline 3 different comparisons an analyst may include when evaluating the performance of a An analyst can evaluate a c ...

1. Outline 3 different comparisons an analyst may include when evaluating the performance of a An analyst can evaluate a company’s performance by ...

11 pages

Business Question Revised

Actions, Errors, and Omissions Contributing to the Six Wrongful Death Complaints In the wrongful death complaint involving ...

Business Question Revised

Actions, Errors, and Omissions Contributing to the Six Wrongful Death Complaints In the wrongful death complaint involving Bhashar Quan, CapraTek's ...

IS 3310 Auburn University Montgomery Data Analysis and Statistical Tests Paper

"What other SAS or Excel statistical analyses or graphics could you have used that would improve your presentation and why ...

IS 3310 Auburn University Montgomery Data Analysis and Statistical Tests Paper

"What other SAS or Excel statistical analyses or graphics could you have used that would improve your presentation and why?"

Three Types of Electronic Health Records Questions

APA Format, introduction, MINIMUM OF 1800 WORDS, CONCLUSION, MINIMUM 5 RECENT REFERENCES. &n ...

Three Types of Electronic Health Records Questions

APA Format, introduction, MINIMUM OF 1800 WORDS, CONCLUSION, MINIMUM 5 RECENT REFERENCES. Log into Practice Fusion www.practicefusion.com, the free Internet based EHR Log into www.practicefusion.com and create an account as a student user Click on the help tab at the top and go to the meaningful use (mu) center and explore the resources available to help practices meet mu Explore the dashboard page too and see all the resources available including the templates available for clinicians & check out the specialties too Develop a table that critques three types of EHR’s to include the following: Names of systems Advantages and disadvantages HITECH standards How it protects patient privacy How it improves efficiency What settings they are best used in

Funding in Non Profits Organizational Non Profit Discussion

, suggest the optimal funding generating strategy for the chosen organisation. Introduce the topic of funding in non-profi ...

Funding in Non Profits Organizational Non Profit Discussion

, suggest the optimal funding generating strategy for the chosen organisation. Introduce the topic of funding in non-profits generally, outline the approach you recommend and then provide a full and detailed explanation of the approach, how specifically it will be implemented and a justification for why you suggest this particular approach

4 pages

Chapter 12 The Sarbanes

1. A enacted bill or law is authored to provide fairness and create harmony between parties. The enactment of the Sarbanes ...

Chapter 12 The Sarbanes

1. A enacted bill or law is authored to provide fairness and create harmony between parties. The enactment of the Sarbanes-Oxley Act was to promote ...