A pronoun should be used to stand for
a. a phrase.
b. a clause.
c. a noun.
d. any of the above.
C
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A company reports ending accounts payable of $1,440 and cost of goods sold of $11,680. Compute days' payable outstanding.
A. 41 days B. 36 days C. 35 days D. 39 days E. 45 days
An effective accounting system is designed to provide which of the following to help discover fraud?
a. An audit trail b. Matching of expenses to revenues c. Set of controls d. Set of accounting procedures
The calculation of cost of goods available for sale during the year is not affected by the previous year's ending merchandise inventory
Indicate whether the statement is true or false
The primary role of accounting is to determine the amount of taxes a business will be required to pay to taxing entities
Indicate whether the statement is true or false