For each of the following accounts, indicate whether we use a debit or a credit to decrease the balance of the account.(a) Accounts Receivable(b) Accounts Payable(c) Salaries Expense(d) Service Revenue(e) Supplies(f) Common Stock(g) Advertising Expense(h) Dividends
What will be an ideal response?
(a) credit; (b) debit; (c) credit; (d) debit; (e) credit; (f) debit; (g) credit; (h) credit
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The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed
A) historical cost B) contra asset C) book value D) market value
Quentin wants to reward his employees while also raising equity in his small business. By doing this, he will be able to keep control of the business until the time comes to hand over the reins to his eligible employees. Quentin has decided to start
a. A merit pay system b. Profit sharing c. Gainsharing d. An employee stock ownership plan
Employees who are not motivated tend to perform just as effectively as those who are motivated
Indicate whether the statement is true or false.
Christy recently began selling Arbonne skin care products on a part-time basis. She began by telling all her friends and relatives about the product. Then she called old friends from her college days and reached out to the friends of her friends. This technique for generating leads is called:
A. cannibalizing B. networking C. snowballing D. incremental approach E. multiplier effect