and travel information. In 1991, Quantum was renamed America Online and Case was appointed CEO of the company. ------------------------------------------------- The total customer base of the company during that period was 150,000, with total revenues amounting to $ 20 million. During the 1990s, AOL acquired Compuserve, Netscape and the ICQ brand. These acquisitions helped it establish itself as a global online service provider.4 During the same, AOL entered the e-commerce solutions market through
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WGU - FNC1 FNC1 Exam Question | Answer | Which of the following transactions is not possible | Increase both liabilities and Equity for the same account | A transaction that increases Liabilities and Equity at the same time. | Is not possible | Identifying Transactions, Recording transactions, and communication transactions should be performed in what order? | Identifying, recording, and communicating | The proper order for these transactions are Identifying, recording, and communication
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concern assumption. Relevance, reliability, comparability and understandability are the primary characteristics. (1)List income and expenses as the elements related to performance. (2)Define it as a resource from which a future economic benefit is expected. (3)Use “probable” to define the criteria for recognition. Financial statements elements (1)List revenues, expenses, gains, losses and comprehensive income as the elements related to performance. (2)Define an asset as a future economic benefit
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Analysis of the Financial Statements of Star Cruises Limited Executive Summary Star Cruises Limited provides cruise service to the Asia-Pacific region as well as certain investment into resorts and casinos in Macau as well as in Philippines. The year 2008 was an eventful year for Star Cruises Limited (Star Cruises), with events such as the overwhelming financial crisis which had affected Star Cruises, as well as the deemed disposal of the Norwegian Cruise Line Corporation Ltd (NCLC), where NCLC
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officials, contributors to nonprofits, suppliers and customers. 4. Business owners and managers use accounting information to help answer questions such as: What resources does an organization own? What debts are owed? How much income is earned? Are expenses reasonable for the level of sales? Are customers’ accounts being promptly collected? 5. Service businesses include: Standard and Poor’s, Dun & Bradstreet, Merrill Lynch, Southwest Airlines, CitiCorp, Humana, Charles Schwab, and Prudential. Businesses
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concept Money measurement concept Going concern concept Entity concept 3.Jeff Brown, owner of Shoe Central, a small shoe store, buys cleaning supplies for his store once every six months. The fact that his accountant writes off, or records as expenses, the full cost of the cleaning supplies when they are purchased, rather than each monthly accounting period as they are used, is an application of the: Matching concept Money measurement concept Materiality concept Historical cost concept 4
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Introduction The user of information and they needs of information are varied and as consequences the ways to present the financial statements also can be. Depending on the corporation, this information can be presented in a way that reflected an image according to the user’s needs, in other words, present the information that users want to see. In this sense, is important to know that this information is not always the most real neither the better. By definition Window Dressing is: “Window
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months ended May 31, 2007). The shift of $US 4.8 billion in net income is largely driven by a dramatic fall of $US 8.5 billion in Lehman’s revenues from principal transactions, which include realized and unrealized gains or losses from financial instruments and other inventory positions owned. A significant portion of the downward shift in principal transactions revenues is actually explained by unrealized losses of $US 1.6 billion in the first semester of 2008 vs. unrealized gains of $US 200 million in
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take 3 years to complete drug X from the execution of the agreement •The PEI will contribute funds to the development of X and is entitled to receive future royalties from Pharmagen in return oThe PEI will receive royalties associated with future revenues of X (if/when it has been successfully developed) oThe PEI will also receive future royalties associated with an existing commercialized drug for a defined period 3.Present your answer and the GAAP that supports your position. Use GAAP to explain
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and breakeven point in sales dollars based on actual sales data in detail. Finally, I will also list few recommendations that allows the reader to select the best one fit for the Smithen Company. Introduction In order to generate more revenue by choosing the best alternative and sustain the company’s profitability in the long run, the following issue should be addressed and will be evaluated and analyzed in the following steps. Critical Issue Smithen Company, a wholesale distributor
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