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Author Question: Enoch, Inc began operations on July 1, 2011. On August 1, it received 12,000 in advance for services ... (Read 92 times)

mynx

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on: Jul 5, 2018
Enoch, Inc began operations on July 1, 2011. On August 1, it received 12,000 in advance for services to be performed evenly over the next 12 months.
 
  How much of this revenue should the company report on its income statement for the MONTH ended August 31, 2011?
  A) 12,000
  B) 1,000
  C) 11,000
  D) 5,000

Question 2

The segregation of duties control plan consists of separating all of the following event-processing functions except:
 a. planning events
  b. authorizing events
  c. executing events
  d. recording events


jharrington11

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Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

A


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