Misstatements in a batch computer system caused by incorrect programs or data may not be detected immediately because:
An entity had cash receipts from sales of US $175,000 during year 2, of which US
$30,000 was unearned at the end of Year 2. At the end of Year 1, the company had US $40,000 of deferred revenue, all of which was earned in Year 2. The company's sales revenue for Year 2 would be:
Which of the following is not a required element of a contract?
Refer to the exhibit.
A company's financial balance sheet is presented below:
The company has net working capital of:
Assume that each day an entity writes and receives checks totaling US $10,000. If it takes
5 days for the checks to clear and be deducted from the entity's account and only 4 days for the deposits to clear, what is the float?
