Many states have professional licensing statutes which provide that if a party to a contract does not have a required license, the other party must still pay and can sue in court for damages
a. True
b. False
Indicate whether the statement is true or false
False
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The following set of items describes activities completed by a company in purchasing and paying for merchandise. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. Checks are signed by designated officers in the finance department
a. Adheres to sound internal control procedures b. Violates sound internal control procedures c. Neither strengthens nor violates internal control
Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their requirements in terms of amenities and cuisines
By implementing the suggestions she receives from guests, Carol would be following the ________ concept. A) production B) product C) selling D) marketing E) societal marketing
In 2018, almost 60% of the adult U.S. population was expected to use online banking.
Answer the following statement true (T) or false (F)
On December 31, Jacoby Company received a $385 bill for the purchase of supplies in December that it will not pay for until January 15. Jacoby follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry needed on December 31 to accrue this cost is:
A. Debit Accounts Payable $385; credit Cash $385. B. Debit Accounts Payable $385; credit Supplies $385. C. Debit Supplies $385; credit Accounts Payable $385. D. Debit Supplies Expense $385; credit Cash $385. E. Debit Supplies Expense $385; credit Supplies $385.