Based on its income for the month, Reel Company estimates that federal income taxes for the month of May will be $11,000 . What is the effect of the adjustment on the financial statements?
a. Increase retained earnings
b. Increase income taxes expense
c. Increase net income
d. Decrease income taxes payable
b
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Suppose another breakthrough in computer technology greatly increases total factor productivity. Explain how this would affect aggregate supply, output, and the price level in the short run and the long run.
What will be an ideal response?
An expense is an inflow of assets resulting from the sale of goods and services
a. True b. False Indicate whether the statement is true or false
Marketers recognize that people have an actual self-concept and ________.
A. an inconsistent self-concept B. a persona determined by their peers C. a persona determined by psychology D. an abstract self-concept E. an ideal self-concept
Why was Frederick Taylor's principle of the piecerate system beneficial to workers and managers?
A. The piece-rate system exemplified the Hawthorne effect. B. The piece-rate system incentivized workers to accomplish more, as well as earn more money for themselves. C. The piece-rate system increased the number of motions necessary to accomplish tasks. D. The piece-rate system paid workers equally, despite differences in productivity. E. The piece-rate system highlighted the contingency perspective.