An advance pricing agreement can eliminate the possibility of double taxation on multinational exchanges of goods
Indicate whether the statement is true or false
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Which of the following statements is true?
a. An entry in a general ledger account can be traced to the trial balance by referring to the page listed in the posting reference column of that ledger account. b. The posting of an amount recorded in the general journal can be verified by referring to the account number listed in the posting reference column on that line in the general journal. c. Business transactions are recorded first in the general ledger; then that information is transferred to the general journal. d. No explanation is needed for each entry in the general journal.
Avon, a cosmetics company, primarily uses which form of retailing?
A. expanded B. showrooming C. direct selling D. automated E. omnichannel
Perpetrators of some fraud schemes often target conspiracy theorists, promising access to the "secret" investments used by the Rothschilds or Saudi royalty and offer triple-digit returns. Such schemes are best described as:
a. Affinity frauds. b. Ponzi schemes. c. Franchise frauds. d. Prime bank schemes.
A corporation issued 110 shares of its $5 par value common stock in payment of a $1900 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:
A. A $1900 credit to Cash. B. A $1900 debit to Legal Expenses. C. A $550 debit to Organization Expenses. D. A $1900 credit to Common Stock. E. A $1350 credit to Paid-in Capital in Excess of Par Value, Common Stock.