Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 19 Aug 2017 My Price 7.00

Realization Objectivity

For each of the situations described below, indicate the underlying accounting principle that is being violated. Choose from the following principles:

Matching  Materiality Cost     Realization Objectivity

If you do not believe that the practice violates any of these principles, answer “None” and explain.

a.       The bookkeeper of a large metropolitan auto dealership depreciates the $7.20 cost of metal wastebaskets over a period of 10 years.

b.       A small commuter airline recognizes no depreciation expense on its aircraft because the planes are maintained in “as good as new” condition.

c.        Palm Beach Hotel recognizes room rental revenue on the date that a reservation is received. For the winter season, many guests make reservations as much as a year in advance.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 04:08 PM My Price 7.00

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