Elimination entries are recorded in the consolidated journal and posted to the consolidated ledger

Indicate whether the statement is true or false


F

Business

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Primary stakeholders include all of the following except:

A) top management. B) employees. C) media. D) suppliers. E) customers.

Business

Contributed capital by owners is one source of long-term funds and is considered a type of long-term liability

Indicate whether the statement is true or false

Business

Under which circumstance would one less closing entry than usual be made?

A) When a net loss has been suffered B) When dividends are equal to net income for the period C) When net income is zero D) When the Retained Earnings account is zero prior to posting of closing entries

Business

Organizations will not invest in making a product or providing a service unless it will provide a minimum return

Indicate whether the statement is true or false

Business