Using accrual accounting, revenues are recorded
a. when cash is received without regard to when the services are performed or products have been delivered to customers
b. when a service has been performed or products have been delivered to customers without regard to when cash is received
c. when cash is received at the time services are performed or products have been delivered to customers
d. only if cash is received after the services are performed or products have been delivered to customers

Digitalhealth electronics inc. is a company that builds diagnostic devices. it was the first company to develop a compact mri scanner by reconfiguring the components of the mri technology. this smaller and user-friendly version of the huge mri scanner created demand from small hospitals, nursing homes, and private practice doctors who were earlier dependent on the scanning machines in large hospitals. which of the following types of innovations does this scenario best illustrate? a. disruptive innovation b. incremental innovation c. radical innovation d. architectural innovation

Joint cost cheyenne, inc. produces three products from a common input. the joint costs for a typical quarter follow: direct materials $45,000 direct labor 55,000 overhead 60,000 the revenues from each product are as follows: product a $75,000 product b 80,000 product c 30,000 management is considering processing product a beyond the split-off point, which would increase the sales value of product a to $116,000. however, to process product a further means that the company must rent some special equipment costing $17,500 per quarter. additional materials and labor also needed would cost $12,650 per quarter. a. what is the gross profit currently being earned by the three products for one quarter? $answer b. what is the effect on quarterly profits if the company decides to process product a further? $answer

When the benefit of one particular use of a resource is greater than the opportunity cost, then that resource is which of the following? a. not scarce b. being used efficiently c. a normal good d. non-excludable