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NEW QUESTION 47
Persuasive evidence of an arrangement does not exist when:

A. Revenue and corresponding expenses doesn't match each other.B. No written or verbal agreement exists.C. Timings not meet properlyD. Capitalized expenses and Liabilities will not be up to satisfied level

Answer: B

Explanation:
Section: Law
Explanation/Reference:

 

NEW QUESTION 48
According to accounting principles, ________ and ________ should be recorded or atched in the same accounting period; failing to do so violates the matching principle of AAP.

A. Revenue and Income statementB. Revenue and corresponding expensesC. Capitalized expenses and LiabilitiesD. Income statement and Long-term contracts

Answer: B

Explanation:
Section: Financial Transactions and Fraud Schemes

 

NEW QUESTION 49
____________ is a process by which a bookkeeper records all transactions and can adjust the books.

A. Accounting CycleB. Journal EntriesC. None of allD. Financial statement

Answer: B

 

NEW QUESTION 50
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.

A. CorruptionB. None of aboveC. Fraudulent statementD. Asset misappropriations

Answer: C

 

NEW QUESTION 51
......


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