In Accounting for Expendable Fund Entities, Revenue Is Ordinarily Not

question 34

Multiple Choice

In accounting for expendable fund entities, revenue is ordinarily not recognized until:

• A)it can be objectively measured and it is available to finance expenditures of the current period.
• B)a transaction has taken place and the earnings process is complete.
• C)it has been received in cash.
• D)none of the above.

List and explain the steps in the Lewin change model.

Define and describe the concept of organizational development.

Identify the three levels in an organization where change occurs according to Kurt Lewin.

Describe the unfreezing stage in the Lewin change model.

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Definitions:

Depreciation

The methodical distribution of the expense of a physical asset throughout its lifespan, indicating the decrease in its value as time passes.

Asset

An economic resource owned or controlled by an individual or organization that is expected to produce future benefits.

Provide Services

The act of performing tasks or duties for customers or clients in exchange for compensation.

Operating Expenses

Operating expenses are the costs associated with running a company's day-to-day activities, excluding the cost of goods sold.