Subsidiary ledgers
A) are used only for Accounts Payable and Accounts Receivable
B) may be used for various ledger accounts
C) may be used for only those accounts specified by the FASB
D) are never used for more than four accounts
B
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Pharma Meds Corporation employs Ogilvie under an employment contract that sets out a specific amount of money to be paid for certain results over a stated period of time. During the term of the contract, it becomes clear that the results are not likely to be attained. Pharma then gives Ogilvie the option of accepting a lesser position with fewer duties for less money. Ogilvie accepts via e-mail, but soon files a suit against Pharma for breach of the original contract. The court is most likely to rule that Ogilvie's e-mail
A. showed only an agreement to agree. B. accepted the proposed modification of the employment contract. C. constituted a non-binding, non-contractual communication. D. contained an acceptance but is unenforceable because it is electronic.
The purpose of studying financial statements is ________
A) to mechanically build portfolio analysis B) to understand those portions of the statements that have relevance for financial decision making C) to primarily investigate all portions of the statements that have relevance for dividend policy D) to mechanically learn how to read and understand footnotes
What term denotes a nation's basis for allocating its resources among its citizens?
A) Capital structure B) Economic system C) Ownership processes D) Distribution network E) National regulations
When an organization develops a comprehensive security plan, it should set up a security committee with representatives from all departments as well as upper management
Indicate whether the statement is true or false