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13 Cards in this Set
- Front
- Back
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___ represent future income contracted for and/or collected in advance, but which has not yet been earned by the passing of time or other criteria
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deferred credit
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long-term prepayments made to others.. An asset
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deferred charge
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R&D equipment with no alternative use should be - amortized/expensed -
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expensed, only those with alternate future uses should be capitalized and depreciated over the useful life of the equipment
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with generic products, sales are based on - production/shipments -
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shipment
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with custom-produced products, sales are based on - production/shipments -
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production
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advances or deposits from customers
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a liability
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the amount of deferred gross profit relating to installment AR collections 12 months beyond the balance sheet date should be reported in the…
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current asset section as a contra account
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under the translation method, all income statement items, including salaries expense and sales to external customers, are translated using the…
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weighted-average exchange rate for the current year
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the foreign subsidiary's ___ currency is the curency of the environment in which the subsidiary primarily generates and expends cash
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functional
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gains/loss from remeasurement are reported in...
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gains/loss from translation are disclosed…
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and accumulated as a component of other comprehensive income - OCI
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the rate to be used to translate all assets and liabilities from the functional currency to the reporting currency is..
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the current rate
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the rate to be used to translate common stock/APIC from the functional currency to the reporting currency is..
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the historical rate
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