It is important to make instructions
A) precise.
B) clear.
C) both A and B.
C
You might also like to view...
Answer the following statements true (T) or false (F)
1. An imprest system is a way to account for petty cash by maintaining a constant balance in the petty cash account. 2. The imprest system requires that the petty cash box contain cash and petty cash tickets that total the amount of the imprest balance only at the end of each month. 3. The journal entry to replenish a petty cash fund includes a debit to the Petty Cash account and a credit to the proper expense account(s). 4. When replenishing the petty cash fund, the company debits the Petty Cash account and credits the Cash account. 5. When replenishing the petty cash fund, the company debits either the associated expense incurred or the asset purchased with the fund.
If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial statements prepared at that time would show:
A. Assets overstated and equity understated. B. Assets, net income, and equity overstated. C. Assets overstated, net income understated, and equity overstated. D. Assets and equity both understated. E. Assets, net income, and equity understated.
The aspect of business ethics that examines business institutions from a social rather than an individual perspective is referred to as:
A. corporate cultural responsibility. B. institutional morality. C. decision making for social responsibility. D. organizational ethical responsibility.
Under the UCC, a court can find that a contract exists even though the court cannot determine
exactly when the contract came into existence. Indicate whether the statement is true or false