Cash received prior to delivering a product or performing a service is called what

Moonland Company's income statement contained the following errors: Ending inventory, December 31, 2018, understated by $9,000 Depreciation expense for 2018 overstated by $1,500 What is the effect of the errors on 2018 net income before taxes

Tim Jarosz Company had the following account balances at year-end: Cost of Goods Sold $60,000, Inventory $15,000, Operating Expenses $29,000, Sales Revenue $115,000, Sales Discounts $1,200, and Sales Returns and Allowances $1,700.

During the Obama administration, the development of low-cost batteries for electric cars received large amounts of federal funding in terms of subsidies.

To facilitate the combination of utility financial statements with the statements of other enterprise funds, GAAP permits utilities to follow the customary format used by nonutility business organizations. True/False

Sarah is tasked with analyzing financial records in order to find discrepancies, trends, as well as indicators of where efficiencies may be made. She discovers that Profit and Loss statements indicate possible embezzlement.

Which of the following is a difference between the concept development stage and the product development stage? A.

The diamond market is monopolized by the debeers organization, from mining to cutting and polishing to wholesaling. jewelers can do little to negotiate prices. this situation typifies

Pita Pal sells fast-food franchises. Pita Pal receives $83,000 from a new franchisee for providing initial training, equipment, and furnishings that together have a stand-alone selling price of $83,000.

If a client chooses to pay premiums other than annually, what can he or she expect?

Antone Company sells office equipment on July 31, 2017, for $21,000 cash. The office equipment originally cost $72,000 and as of January 1, 2017, had accumulated depreciation of $42,000. Depreciation for the first 7 months of 2017 is $4,600.