Answer the following statements true (T) or false (F)
1) A debit always decreases the balance of an account.
2) The General Journal contains records of a firm's financial transactions, which appear chronologically.
3) In the General Ledger, the debit column reflects the balance of the account.
4) Two complete payroll-related General Journal entries are recorded each pay period: one for the employees' payroll, one for the employer's share of the taxes.
5) Payroll accruals reflect the amount of payroll paid but not earned at the end of the financial period.
1)FALSE
2)TRUE
3)FALSE
4)TRUE
5) FALSE
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The cost/effectiveness study attempts to answer the questions, "which alternative accomplishes the user's goals for the least cost (or greatest benefit)?" and "which alternative best accomplishes the user's goals for the system being developed?"
Indicate whether the statement is true or false
Which of the following would never appear in at least one of the formal reports of a merchandising business?
a. Net Loss; b. Income Summary; c. Cost of Goods Sold; d. Purchases; e. Capital
Which of the following is true of corporations that operate in several different countries??
A. ?A nation may expropriate the assets of multinational corporations without compensation. B. ?Differences in legal systems of host nations make it easy for executives trained in one country to operate effectively in another. C. ?Cash flows in various parts of a multinational corporate system are denominated in one currency. D. ?Multinational corporations have the advantage of uniform attitudes toward risk taking from one country to the next. E. ?Uniformity of tax-laws across different nations result in proper coordination and control of subsidiaries.
_____ is a strategy that attempts to attract new customers to existing products.
A. Product development B. Market development C. Market penetration D. Product penetration E. Diversification