A business uses a credit to record:
A. A decrease in a common stock account.
B. A decrease in a revenue account.
C. A decrease in an unearned revenue account.
D. An increase in an expense account.
E. A decrease in an asset account.
Answer: E
You might also like to view...
What are new venture groups? What purpose do they serve? Are they more than a typical R&D department? Explain.
What will be an ideal response?
Enforcement proceedings under the Sherman Act may not be brought by the:
A) U.S. Commerce Department. B) U.S. Justice Department. C) Federal Trade Commission. D) state Attorneys General.
The risk-free rate on borrowed funds is determined by
A) the Federal Reserve. B) Congress. C) supply and demand. D) the banking system.
Fiona is about to graduate college with a management degree. She has been offered a job as a sales representative for a pharmaceutical company. The job will require significant travel and entertainment expenses for which she will be given a salary supplement. What tax issues should Fiona consider in her decision?
What will be an ideal response?