Organizational process asset updates are an important output of the closing process of a project
a. True
b. False
Indicate whether the statement is true or false
True
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Crouch Apartments purchased an apartment building to rent to university students on December 15, 2015 . The tenants moved in on January 1, 2016 . On Super Bowl Sunday, a student punched a hole in the wall when his favorite team fumbled the ball. It cost the landlord $400 to repair the hole. How should this cost be recorded?
a. It should be recorded as part of the asset account. b. It should be recorded as repair and maintenance expense. c. It should not be recorded as the tenants will be charged for the damage. d. It should not be recorded since this is an immaterial amount to the landlord.
The capital account balances of a partnership are as follows: Sully, $30,000; Tony, $30,000; and Rally, $30,000 . If Pauly gives $36,000 cash to Rally to buy his partnership interest, the entry to record this transaction would include a
a. debit to Rally Capital, $30,000; b. debit to Rally Capital, $6,000; c. credit to Pauly Capital, $36,000; d. credit to Sully Capital, $2,000; e. debit to Cash, $36,000
The salutation "Dear Ms. Lucy" should end with a comma rather than with a colon in a(n) _____
A. collection letter B. claim letter C. condolence letter D. adjustment letter
Control charts that monitor the dispersion or variability of the process are
A) P-charts. B) C-charts. C) R-charts. D) X-bar charts.