In november and december year 1, dorr co., a newly organized magazine publisher, received $72,000 for 1,000 3-­year subscriptions at $24 per year, starting with the january year 2 issue. dorr elected to include the entire $72,000 in its year 1 income tax return. what amount should dorr report in its year 1 income statement for subscriptions revenue? a. $24,000b. $0c. $ 4,000d. $72,000

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

Why is it vital to maintain a designer worksheet? a. it separates the designs chosen for the season from those rejected by the company. b. it keeps a record of all designs created by the designer for a season. c. it charts out the development of an entire line through the season and beyond. d. it tracks the development of a design along with costing and production details. done

Describe what fixed costs and marginal costs mean to a company.