Which of the Following Situations Would Result in an Increase

question 40

Multiple Choice

Which of the following situations would result in an increase in income under the accrual method of accounting,but would NOT result in an increase in income under the cash-basis method of accounting?

• A) Purchase of supplies for cash
• B) Performance of services on account
• C) Use of supplies purchased earlier
• D) Receipt of cash for services that were performed earlier on account

Identify the advantages of using computer monitoring for forecast adjustments.

Differentiate between short-range, medium-range, and long-range forecasting.

Calculate seasonal indices and understand their application in seasonal adjustment.

Understand the role of smoothing constants in exponential smoothing.

---

Definitions:

Autarky

An economic system where a region or country is self-sufficient and has no trade with the outside world.

Specialization

The situation in which each person specializes in the task that he or she is good at performing.

Absolute Advantage

The ability of an individual or economy to produce a good or service more efficiently than competitors using the same amount of resources.

Cars

Motor vehicles with four wheels designed primarily for passenger transportation and commonly powered by internal combustion engines.