Clas 104 - Study guides, Class notes & Summaries

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, ...