The Johnsons have been thinking about the financial principle - Pay Yourself First. Being very conservative, they might consider having their bank
A) sell them a risky mutual fund.
B) send them a monthly reminder to make a deposit in their 401(k).
C) do a direct deposit of John's paycheck into their checking account.
D) do a direct deposit of some of John's paycheck into a savings fund.
Answer: D
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It is generally safe to write positive letters of recommendation for former employees
Indicate whether the statement is true or false.
Which one of the following is TRUE of the bank reconciliation?
A) It should not be prepared by an employee who handles cash transactions. B) It is prepared in place of the cash ledger. C) It is a financial statement. D) It guarantees that no errors have been made.
______ is a compensation structure that rewards employees for the acquisition of new skills that lead to enhanced work performance.
What will be an ideal response?
On January 1, a business exchanged a plant asset with a book value of $1,500 for a similar asset that had a list price of $23,000 . The business received a trade-in allowance of $2,100 for the old plant asset. The exchange resulted in:
a. a gain of $600 on the disposal of a plant asset. b. an unrecognized gain of $1,000 on the exchange of a plant asset. c. a cost basis of $22,400 for the new plant asset. d. a cost basis of $20,600 for the new plant asset. e. a credit to accumulated depreciation of $21,500.