Transaction information stored in accounting records is a good secondary source of research information
Indicate whether the statement is true or false
TRUE
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If a company borrows money from its bank and the bank deducts the interest in advance, the company would record the amount of the interest deduction as
a. a discount b. an expense c. a loss d. prepaid interest
Which of the following accounts increases with a debit?
A) Cash B) Interest Payable C) Accounts Payable D) Common Stock
When discussing qualitative and quantitative forecasting techniques:
a. qualitative techniques rely on analysis of past and current data. b. quantitative techniques are susceptible to subjective interpretation. c. qualitative techniques include the Delphi technique and scenario planning. d. quantitative techniques are based on detailed subjective analysis.
Once you have evaluated your current financial situation and know your sources of income and expenses, you have reached the point where you can establish a personal budget.
Answer the following statement true (T) or false (F)