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NEW QUESTION 41
Which of the following is TRUE regarding accrual-basis accounting?

• A. Revenues are generally recognized when services are rendered to a customer.
• B. Accrual-basis accounting is simpler to use than cash-basis accounting.
• C. The accrual method focuses on tracking a company's current cash flow.
• D. Expenses are recorded in the accounting system as soon as they are paid.

Answer: C

Explanation:
Explanation/Reference: https://www.accountingtools.com/articles/what-is-the-accrual-basis-of-accounting.html

NEW QUESTION 42
Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.

• A. True
• B. False

Answer: A

NEW QUESTION 43
Forced reconciliation of the account says:

• A. to conceal inventory is to alter shrinkage record so that it matches the physical inventory count.
• B. to conceal write-offs is to change the perpetual inventory record so that it matches the physical inventory count.
• C. to conceal shrinkage is to change the perpetual inventory record so that it matches the physical inventory count.
• D. to conceal shrinkage is to alter inventory record so that it matches the physical inventory count.

Answer: C

NEW QUESTION 44
Which of the following is NOT a method of identity theft prevention recommended for businesses?

• A. Restrict employees' access to customers' personal information.
• B. Collect customers' government identification numbers only when legally required to do so.
• C. Require employees to use laptops rather than desktop computers.
• D. Use encryption to protect information sent internally through the company's wireless network.

Answer: C

NEW QUESTION 45
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