User Account

All Pages

What type of scheme is being perpetrated

Assignment Help Accounting Basics
Reference no: EM133171204

Question - ABC Software Systems has multi-year service contracts with its customers. As such a proportion of the fees for these services are treated as unearned revenue on the balance sheet. If ABC treats all these fees as revenue in year one, what type of scheme is being perpetrated?

A. Liability understatement

B. Revenue understatement

C. Cost of goods sold understatement

D. Assets overstatement

Reference no: EM133171204

Questions Cloud

Calculate cost of goods sold using fifo periodic inventory : Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the end of December
Selection process was used for the qualitative data : Measuring the impact of the SHCR: in-depth case studies - What sample selection process was used for the qualitative data gathering
Why nations trade in goods and services : Why do companies enter foreign markets? Name and describe three theories of why nations trade in goods and services.
Identify and discuss at least two ethical concerns : The robo-taxi will not have a driver and all of them will be corporately owned by Tesla. Identify and discuss at least 2 ethical concerns that you have
What type of scheme is being perpetrated : ABC Software Systems has multi-year service contracts with its customers. What type of scheme is being perpetrated
Quality hypothetical business ethics : A high quality hypothetical business ethics issue in a veterinary practice.
Prepare the necessary journal entry for the bond conversion : Prepare the necessary journal entry for the bond conversion on March 2, 2021 Assume that the Platinum Company uses the market method
Prepare the journal entry to record compensation expense : At the end of 2023, all 10,000 SARs vested (100% vesting). Prepare the journal entry to record 2023 compensation expense
Prepare the compensation expense journal entry : The expected vesting rate drops to 40%. Prepare the compensation expense journal entry that Rival will record in 2022 (year 2)

Reviews

Write a Review

Accounting Basics Questions & Answers

  Explain how accelerated depreciation is a benefit

Determine what is the mean for accelerated depreciation and Explain how accelerated depreciation is a benefit and deterrent to a business.

  What would be the value of one right

The subscription price is $46 and three rights are needed along with the subscription price to buy one of the new shares. What would be the value of one right

  What is the discount rate implicit in the amortization

Fair value of the land at time of the sale was $40,000. What is the discount rate implicit in the amortization schedule presented above

  Granite works maintains a debt-equity ratio of 065 and has

granite works maintains a debt-equity ratio of 0.65 and has a tax rate of 32 percent. the firm does not issue preferred

  Determine the unit sales to attain that target profit

Assume the company's monthly target profit is $69,000. Determine the unit sales to attain that target profit. Assume the company's monthly target profit.

  Why cash flow is more important than sales in a business

Describe why cash flow is more important than sales in a business. Discuss what could happen if management does not fulfill responsibilities related.

  Find missing data beginning assets 2800 and beginning

find missing data.beginning assets 2800 and beginning liabilities 16800 . ending assets 30000 and ending liabilities

  Compute for the total product cost

The following costs were incurred during the year by Hopefully Company: Promotional expenses 28,000. Compute for the total product cost

  What are the journal entries on january

Company P owns 80% of Company S. On January 1, 2009, P sells land to S for $80,000. What are the journal entries on January 1, 2009 for Company P and Company S

  Explain the concept of special purpose framework

Explain the concept of special purpose framework. Provide regulation or supporting argument for the reasoning or criteria for that concept

  Complete the following table and indicate which alternative

Complete the following table, and indicate which alternative is preferable.

  What is the taxable equivalent yield on a municipal bond

What's the taxable equivalent yield on a municipal bond with a yield to maturity of 5.50 percent for an investor in the 28 percent marginal tax bracket

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd