Entrypoint offers ________ services
(a) peer-to-peer payment.
(b) digital cash.
(c) e-wallet.
(d) bill payment.
Ans: (c)
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The amount of federal income taxes withheld from an employee's gross pay is recorded as a(n)
a. payroll expense b. contra account c. asset d. liability
The normal balance is a debit in a
a. liability account; b. revenue account; c. debt account; d. capital account; e. drawing account.
Under U.S. GAAP and IFRS, the firm measures the assets and liabilities of a discontinued operation at the lower of their _____ It reports any gain or loss that results in the Discontinued Operations section of the income statement. The Discontinued Operations section also includes income or loss from operating the unit for that year. Financial statements for prior years included for comparative
purposes classify those amounts also as a discontinued operation. a. carrying values or their fair values. b. net realizable values or their fair values. c. carrying values or the present value of future cash flows. d. net realizable values or the present value of future cash flows. e. liquidation values or the present value of future cash flows.
Jack-in-the-Box, Inc cooked its hamburgers according to the temperature required by law. Other chains cooked their hamburgers at a higher temperature and for longer. Jack-in-the-Box:
a. Made a decision that resulted in liability and the moral responsibility for deaths and injuries of its customers. b. Was in compliance with the law and ethical in its conduct. c. Has no liability because it was in compliance with the law. d. Both b and c e. None of the above