After an independent audit, an accountant certifies the financial statement by issuing a(n) ________.
A. opinion letter
B. certificate of audit
C. memorandum
D. amicus brief
Answer: A
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_____ is a standard for software that digitizes and compresses voice signals and transmits the bits via the Internet link.
A. VoIP B. SoIP C. IRC D. TCP/IP
A customer's promise to pay for goods or services
A) increases the company's liabilities. B) decreases the company's Cash account. C) creates a liability for the company. D) increases the assets of the company.
Like retailers, wholesalers must decide on product and service assortments, prices, promotion, and place
Indicate whether the statement is true or false
Asuncion Company purchased some equipment on January 2, 2011, for $24,000 . The company used straight-line depreciation based on a ten-year estimated life with no residual value. During 2014, management decided that this equipment could be used only three more years and then would be replaced with a technologically superior model. What entry should the company make as of January 1 . 2014, to
reflect this change? a. No entry b. Debit a Prior Period Adjustment account for $4,800 and credit accumulated depreciation for $4,800. c. Debit Retained Earnings for $4,800 and credit accumulated depreciation for $4,800. d. Debit Depreciation Expense for $4,800 and credit Accumulated Depreciation for $4,800.