________ Consists of Items Such as the Current Interest Rates,housing

question 62

Multiple Choice

________ consists of items such as the current interest rates,housing starts,gross national product (GNP) ,disposable income estimates,or other economic indicators.

• A)Accounting data
• B)Internal data
• C)External data
• D)Financial data

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Definitions:

Profit Recognition

The accounting process of recording revenue when it is earned and realizable, in accordance with the principle of revenue recognition.

Joint Operation

A business activity shared between two or more entities where they work together on a project but do not form a new entity.

Service Revenue

Income earned from rendering services as opposed to income from selling goods.

Management Fee Revenue

Income earned by an entity for providing managerial services or advice to other companies.