help When must a brokerage disclose conditions tied to the forgiving of accrued interestand the APR?Select one:a. When advertising a mortgage securing a line of creditb. When advertising a mortgage with an interest-free periodc. When advertising a fixed amount mortgaged. When advertising a refinancing mortgage Why should a brokerage calculate the cost associated with turnover and hiring?Select one:a. To determine if there is any seasonality effect on turnoverb. To identify unproductive brokers/agentsc. To reduce improper hiringd. To fine tune the forecasting process

Accrued interest refers to the amount of interest that accumulates on a financial obligation, such…

Answered: When must a brokerage disclose…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 12MC: What are some possible reasons for a labor rate variance? A. hiring of less qualified workers B. an...

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Select all the items that are not relevant for decision making from the list below: A. Loss in gross margin B. Direct advertising C. General advertising D. Rent E. Depreciation: Store fixtures F. Depreciation: Delivery equipment G. Store management salaries H. General office salaries I. General office - other J. Insurance K. Utilities L. Employment taxes
What is customer value? Choose the correct. A. Ratio between the customer's perceived benefits and the resources used to obtained these benefits. B. Excess of satisfaction over expectation. C. Post purchase dissonance D. None of the above.
Which of the following is NOT a period cost? Select one: O a. manufacturing costs. Ob general and administrative costs. Oc marketing costs. Od. research and development costs. Which of the following is NOT one of the questions management accountants might attempt to help answer in the formulation of strategy? Select one: a. What substitute products exist in the marketplace? Ob. Who are our most important customers? Does the strategy comply with GAAP (Generally Accepted Accounting Principles)? Od. Will adequate cash be available to implement the strategy?
Cost accounting is used as a means of fixing a selling price. Select one: True False
At what point does revenue recognition occur? A. When the purchase order is received B. When the seller receives the money for the job C. When the seller has met performance D. When the purchaser makes payment
For each situation, list the assumption, principle, or constraint that has been violated, if any. List only one answer for each situation. a. East Lake Company recognizes revenue at the end of the production cycle but before sale. The price of the product, as well as the amount that can be sold, is not certain. choose one of the assumption, principle or constraint Going concern assumptionPeriodicity assumptionNo violationHistorical cost principleRevenue recognition principleEconomic entity assumption b. Hilo Company is in its fifth year of operation and has yet to issue financial statements. (Do not use the full disclosure principle.) choose one of the assumption, principle or constraint Historical cost principleGoing concern assumptionRevenue recognition principleNo violationPeriodicity assumptionEconomic entity assumption c. Gomez, Inc. is…
Which of the following choices correctly denotes factors that can influence a company's pricing practices for goods and services? Market Customer Conditions Costs Demand A. No Yes Yes B. No Yes No C. Yes Yes Yes D. Yes Yes No E. Yes No Yes Select one: a. Choice A b. Choice B C. Choice C Choice D Choice E d. e.
A company should recognize revenue when a. the revenue is earned b. die contract is signed c. the seller satisfies the performance obligation d. the consideration is received
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An analyst must be familiar with the concepts involved in determining income. The amount of in- come reported for a company depends on the recognition of revenues and expenses for a given time period. In certain cases, costs are recognized as expenses at the time of product sale; in other situations, guidelines are applied in capitalizing costs and recognizing them as expenses in future periods. Explain the rationale for recognizing costs as expenses at the time of product sale. What is the rationale underlying the appropriateness of treating costs as expenses of a period instead of assigning the costs to an asset? Explain. Under what circumstances is it appropriate to treat a cost as an asset instead of as an expense? Explain. Certain expenses are assigned to specific accounting periods on the basis of systematic and rational allocation Identify the conditions necessary to treat a cost as a loss.
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