The occurrence which most likely would have no effect on 2020
net income (assuming that all amounts involved are material) is
the
A. collection in 2020 of a receivable from a customer whose account was written off in 2019 by a charge to the allowance account.
B. sale in 2020 of an office building contributed by a stockholder in 1989.
C. settlement based on litigation in 2020 of previously unrecognized damages from a serious accident that occurred in 2018.
D. worthlessness determined in 2020 of stock purchased on a speculative basis in 2016.
The following event would have no effect on 2020 net income: |
collection in 2020 of a receivable from a customer whose account was written off in 2019 by a charge to the allowance account. |
Option A is correct |
The occurrence which most likely would have no effect on 2020 net income (assuming that all...
Question 8 1 pts Assuming all amounts involved are material, the occurrence which most likely would have no effect on 2020 net income is the: O sale in 2020 of an office building contributed by a stockholder in 1989 collection in 2020 of a receivable from a customer whose account was written off in 2019 by a charge to the allowance account O settlement based on litigation in 2020 of previously unrecognized damages from a serious accident that occurred in...
Hi, I had the corrected answers; however, I did not understand their principle. Please help to explain. Thanks 35. The occurrence which most likely would have no effect on 2014 net income (assuming that all amounts involved are material) is the a. sale in 2014 of an office building contributed by a stockholder in 1983. b. collection in 2014 of a receivable from a customer whose account was written off in 2013 by a charge to the allowance account. c. ...
I have this case study to solve. i want to ask which type of case study in this like problem, evaluation or decision? if its decision then what are the criterias and all? Stardust Petroleum Sendirian Berhad: how to inculcate the pro-active safety culture? Farzana Quoquab, Nomahaza Mahadi, Taram Satiraksa Wan Abdullah and Jihad Mohammad Coming together is a beginning; keeping together is progress; working together is success. - Henry Ford The beginning Stardust was established in 2013 as a...