Author Question: Pidcoke Company sold services on account, 23,000 . This transactions should be recorded as a(n) a. ... (Read 190 times)

APUS57 · **on:** Jul 6, 2018

Pidcoke Company sold services on account, 23,000 . This transactions should be recorded as a(n)
a. increase to cash.
b. decrease to revenue.
c. increase to accounts receivable.
d. increase to accounts payable.

Question 2

Which of the following statements best defines the adverse interest threat as per AICPA's Guide for Complying with Rules 102-505 (2008)?

A) the threat that a member will not appropriately evaluate the results of a service performed by the member or by an individual in the member's firm as part of providing another service
B) the threat that a member will promote a client or employer's position to the point that his or her objectivity is compromised
C) the threat that a member will not be objective because his or her interests are in opposition to those of a client or employer
D) the threat that, because of a long or close relationship with a client or employer, a member will become too sympathetic to that entity's interests or too accepting of its work

stanleka1 · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

C

Answer to Question 2

C
Explanation: C) Adverse interest threat is the threat that a member will not be objective because his or her interests are in opposition to those of a client or employer.