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
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