Technology:
A. Reduces the time, effort and cost of recordkeeping.
B. In accounting is only available to large corporations.
C. Has replaced accounting.
D. Has not improved the clerical accuracy of accounting.
E. In accounting has replaced the need for decision makers.
Answer: A
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Alan Company purchased $400,000 of ABC Co 5% bonds at 100 plus accrued interest of $4,500 . Alan later sold $250,000 of bonds at 97 . The journal entry for the purchase would include a
a. credit to Interest Receivable for $4,500 b. credit to Interest Revenue for $4,500 c. debit to Interest Receivable for $4,500 d. debit to Interest Revenue for $4,500
Overapplied overhead is normally transferred to work in process inventory
a. True b. False Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. In the eyes of neoclassical economists discrimination in the workforce will get resolved on its own due to the forces of the market economy. 2. By law, affirmative action plans may not include quotas. 3. The United States has been using the term 'affirmative action' since shortly after World War II when minority veterans begin returning home. 4. Providing businesses with incentives to recruit employees from designated groups is one of the strategies countries use to promote affirmative action. 5. Trade unions have no part of promoting positive action policies that is strictly a management responsibility.
The following will prevent an employee from recovering compensation:
a) assumption of risk b) contributory negligence c) false representations d) injured by another employee e) none