Commercial impracticability is an excuse for nonperformance of a contract if it adds more than 20% to the cost of completing performance
Indicate whether the statement is true or false
False
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What is the overall term for the investigative technique that includes gathering evidence through data mining, audits, computer searches, net worth calculations, and financial statement analysis?
a. Documentary evidence b. Testimonial evidence c. Physical evidence d. Personal observation
Assume the indirect method is used to compute net cash flows from operating activities. For this item extracted from the financial statements—Increase in Accrued Liabilities—indicate the effect on net income in arriving at net cash flows from operating activities by choosing one of the following:
a. Add to net income to arrive at net cash flows from operating activities b. Subtract from net income to arrive at net cash flows from operating activities c. Not used to adjust net income to calculate net cash flows from operating activities
Bailed property must be tangible
a. True b. False Indicate whether the statement is true or false
William Baker works for Jones Restaurant Supply all year and earns a monthly salary of $8,000
There is no overtime pay and Jones withholds income taxes at 12% of gross pay. Jones deducts $200 monthly fo the co-payment of the health insurance premium. Employees are paid on the fifth day of each month. As of October, 31, William had $80,000 of cumulative earnings. Journalize the accrual of salaries expense on October 31. Omit explanations. What will be an ideal response