Kingman Consulting Uses the Cash Basis of Accounting and a Fiscal

question 59

Multiple Choice

Kingman Consulting uses the cash basis of accounting and a fiscal year ending December 31.Beginning on September 1 2021 Kingman performs services for Renfro International at a rate of $5000 per month.On February 12 2022 Renfro pays Kingman $25000 in full for all services rendered from September 1 2021 to January 31 2022.Kingman understated accrual basis revenues by ________ on its year-end 2021 financial statement.

• A)$20000
• B)$5000
• C)$25000
• D)$15000

Appreciate the value of diverse counseling techniques and the importance of supervisor-supervisee communication.

Address minimal supervision situations constructively.

Distinguish characteristics of effective counseling supervisors.

Recognize the goals of fieldwork instruction programs.

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Definitions:

Labour Relations Act

Legislation that regulates the relationship between employers and employees, including union rights and collective bargaining.

Compulsory Mediation

A mandatory process in certain legal disputes where the parties must attempt to resolve their differences through mediation before proceeding to trial.

Collective Bargaining Legislation

Laws that regulate the negotiation process between employers and a group of employees aimed at establishing working conditions.

Collective Bargaining

The process through which employers and unions negotiate terms of employment.