Bellarim Corporation made cash sales to customers. What effect does this transaction have on the accounting equation?
A) Liabilities and retained earnings increase
B) Assets and liabilities increase
C) Assets and retained earnings increase
D) There is no net effect on the accounting equation, as one asset account increases while another asset account decreases.
C
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Which of the following is an example of self-service technologies?
A) calling for a pizza delivery B) buying a service contract for a computer C) printing tickets from a home computer D) visiting a parts-and-service department E) offering secondary service features
Completeness of revenues may be tested by the auditor through the selection of a sample of which of the following?
a. Shipping documents and tracing them to the sales journal. b. Accounts receivable and tracing them to cash receipts. c. Recorded sales transactions and tracing them to the general ledger. d. Inventory records and tracing them to the shipping documents.
Franco and Melanie start a new business called F&M Delivery. Franco contributes $50,000 in cash, and Melanie contributes a fleet of vans worth $80,000. The business assumes Melanie's $30,000 debt on the van. The business borrows $500,000 to purchase necessary buildings and for working capital. They anticipate that the business will suffer losses for at least three years before it becomes profitable. Which entity forms would be appropriate for Franco and Melanie's new business?
What will be an ideal response?
A meeting between higher level management and union officials usually occurs at step __________________ of a union grievance procedure.
Fill in the blank(s) with the appropriate word(s).