Busi 100 unit 2 notes - Study guides, Class notes & Summaries

BUSI 100 Unit 2 Notes Inclusive of Key Terms and Definitions.

1. Dillon's Rule a rule that limits the powers of local gov't to those express- ly granted by the state or those powers closely linked to the express powers... The rule is that a substate unit of government has only those powers expressly granted to by the state, or those powers that are directly and unarguable implied by those powers expressly granted to it by the state 2. Home rules pro- visions and home rules legis- lation 3. The Power of em- inent domain Substate governmen...

1. What has had the most significant impact on account- Information tech- ing practices? 2. What two items of information are revealed on the balance sheet? Choose 2 answers Ownership ,Debt, Expenses Revenues Costs 3. Which situation should result in revenue recognition on the income statement for the year ending 12/31/14 if the firm is using accrual-basis accounting? -In 2014, a company enters into a contract whereby it agrees to provide services to a customer next year (2015). -In 2014, ...