Stannous Company earns $2,000 of revenue on account in Year 1. Cash collections of receivables amount to $1,800 in Year 1 with the remainder being collected in Year 2. Which of the following shows how these events will affect the company’s financial statements at the time revenue is recognized in Year 1? Balance sheetIncome StatementStatement of Cash FlowsAssets=Liabilities+EquityRev.- Exp.=Net Inc. A.+=NA+++-NA=++ OAB. NA=-NA=++ OAC.+=NA+++-NA=+NAD.−=NA+−−-NA=−+ OAa. Option Ab. Option Bc. Option Cd. Option D

How is a proportional tax different from a progressive tax? a. a proportional tax decreases with income level, but a progressive tax increases with income level. b. a proportional tax increases with income level, but a progressive tax decreases with income level. c. a proportional tax increases with income level, but a progressive tax is the same percentage for all. d. a proportional tax is the same percentage for all, but a progressive tax increases with income level.

He management's discussion and analysis (md& a) required in general purpose federal financial reporting is different than that required by gasb of state and local governments in that: a. it includes information about the agency's performance goals and results in addition to financial activities. b. it is outside the general purpose federal financial report and is optional, not required. c. it is a part of the basic financial statements and, as a result, it is audited along with the financial statements. d. there are no significant differences.

Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f