A description should accompany each entry made in the ________.
Fill in the blank(s) with the appropriate word(s).
general journal
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Apple's success with the iPhone prompted Samsung and others to enter the market. This is an example of the "perfect competition."
Indicate whether the statement is true or false
Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $148,500, allowance for doubtful accounts of $1105 (credit) and sales of $1,145,000. If uncollectible accounts are estimated to be 0.700% of sales, what is the amount of the bad debts expense adjusting entry?
A. $6910 B. $8140 C. $8215 D. $8015 E. $9120
Why would a firm prepare pro forma financial statements?
a. to ascertain whether operations will generate sufficient cash flows to finance expenditures on long-term assets or whether the firm will need to borrow more b. to analyze the effect of a change its product lines or pricing policies and the impact on rates of return. c. to project future financial statement amounts for an acquisition target to ascertain the price it should pay d. all of the above e. none of the above
What essential quality will Roni need to have to be successful in sales?
A) She will need to enjoy interacting with potential customers and customers. B) She will need to enjoy making money. C) She will need to enjoy creating branding and marketing campaigns for products. D) She will need to enjoy servicing customers who have purchased the product from the company. E) She will need to enjoy competing fiercely with other salespeople for sales and commissions.