Corporations today outnumber unincorporated business associations
Indicate whether the statement is true or false
False
You might also like to view...
In an environment where most information technology is available to all, _____ that are originally developed to create a strategic advantage quickly become an expected standard business practice.
Fill in the blank(s) with the appropriate word(s).
In its first year of business, Borden Corporation had sales of $2,040,000 and cost of goods sold of $1,220,000. Borden expects returns in the following year to equal 7% of sales. The adjusting entry or entries to record the expected sales returns is (are):
A.
| Sales Returns and Allowances | 142,800? | |
| Sales Refund Payable | 142,800? | |
| Inventory Returns Estimated | 85,400? | |
| Cost of Goods Sold | 85,400? |
B.
| Sales Refund Payable | 142,800? | |
| Accounts Receivable | 142,800? |
C.
| Sales | 2,040,000? | |
| Sales Refund Payable | 142,800? | |
| Accounts Receivable | 1,897,200? |
D.
| Sales Returns and Allowances | 142,800? | |
| Sales | 142,800? | |
| Cost of Goods Sold | 85,400? | |
| Inventory Returns Estimated | 85,400? |
E.
| Accounts Receivable | 2,040,000? | |
| Sales | 2,040,000? |
The International Organization for Standardization has authority to enforce ISO standards
Indicate whether the statement is true or false
A party to a licensing agreement generally agrees to pay royalties on some basis
Indicate whether the statement is true or false