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Riley and Gretchen run a shuttle service from Times Square to New York's JFK airport. Last month, they recorded the following: Riley and Gretchen's gross
Riley and Gretchen run a shuttle service from Times Square to New York's JFK airport. Last month, they recorded the following: Riley and Gretchen's gross profit for the past month was $682.00 $1250.00 Riley: $341.00; Gretchen: $341.00 $2750.00 At the time Rico's Restaurant Supply prepared its financial statements, it had several customers who bought goods over the past three months on its " 90 days same as cash" credit plan. These customers had not yet paid their bills, but they have good credit ratings and Rico's is confident that they will make their payments on time. The amount these credit customers owe would show up as part of the current assets listed on Rico's balance sheet. current liabilities listed on Rico's balance sheet. a deferred cash flow on Rico's statement of cash flows. unrealized revenue reported on Rico's income statement. QUESTION 13 Using computers to post information from journals to the ledger instantaneously has the benefit of having access to readily available financial information. shifting financial decision-making from people to programmed technology. reducing the number of accountants required by the firm. less scrutiny from agencies such as the Internal Revenue Service. Which statement is an accurate depiction of cloud computing? It is difficult to access. It is expensive to implement. It is not very secure. It offers flexible capacity
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