Which of the following can receive and return multiple values?
A. Procedure
B. Function
C. Database trigger
D. Package
Answer: A
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The bank statement for Tetra Company contained the following items: a bank service charge of $50; a credit memo for interest earned, $55; and a $130 NSF check from a customer. The company had outstanding checks of $300 and a deposit in transit of $700.Assuming that the unadjusted bank balance was $1400, what is the unadjusted book balance?
A. $1275 B. $1800 C. $1925 D. $2100
In the process of completing a work sheet, the accountant determines that the Income Statement debit column totals $83,000, while the Income Statement credit column totals $65,000. To enter net income (or net loss) for the period into the work sheet would require an entry to
A. the Balance Sheet & Statement of Retained Earnings debit column and the Income Statement credit column. B. the Income Statement debit column and the Balance Sheet & Statement of Retained Earnings credit column. C. it is not practical to enter Net Income (or Net Loss) on the work sheet. D. the Unadjusted Trial Balance debit column and the Adjustments credit column. E. the Adjustments debit column and the Adjustments credit column.
What helps an economy grow as consumers can spend money on large purchases that keep businesses running and that allows businesses to expand operations to build more items that consumers will buy?
A) Cash B) Debt C) Debit D) Income E) Inflation
The average collection period measures the average:
A) time necessary to collect a credit sale. B) number of customers per day who charge their purchases. C) time for a credit customer to return to make a second purchase. D) number of times a credit customer charges a purchase during a year. E) number of items purchased in each credit transaction.