There Were a Number of Factors the Management Team for Strait

question 316

Multiple Choice

There were a number of factors the management team for Strait Crossing Bridge Ltd.(SCBL) had to consider when determining what price to charge users of the Confederation Bridge.Some of the factors that they had to consider were: (1) what they offered to customers,(2) type of user,and (3) ________________.

• A)the weather
• B)number of customers and the usage rate
• C)the time of day
• D)other toll bridges

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Definitions:

Unrecorded Revenues

Earnings generated from business activities that have not yet been documented in the financial accounts.

Adjusting Process

A procedure in accounting to update ledger accounts for accruals, deferrals, prepayments, and estimates so financial statements are accurate.

Revenue Account

An accounting ledger that records the income generated from sales of goods or services.

Profit Margin

A financial metric that indicates the percentage of revenue that exceeds the cost of goods sold.