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Intermediate Accounting
A cause-and-effect relationship between revenue and expense is best exemplified by:
a) Straight-line depreciation expense b) Double-declining balance depreciation expense c) Units-of-production depreciation expense d) Amortization of insurance expense |
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My question is
Persented below are three different transactions related to materialty. Explain whether you would classify these transactions as material. A) Marcus co. has reorted a positive trend in earnings over the last 3 years. In the current year, it redusces its bad debt allowance to ensure another positive earnings year. The impact of this adjustment is equal to 3% of net income. |
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