Increases in liability accounts are recorded as debits.
Answer the following statement true (T) or false (F)
False
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When using the high-low method, the accountant assumes the fixed portion of mixed costs to be the lowest fixed amount incurred during the period under review
Indicate whether the statement is true or false
Once the adjusted trial balance is in balance, the flow of accounts will now go into the financial statements
Indicate whether the statement is true or false
In quota sampling, all elements in a population have an equal chance of appearing in the sample.
Answer the following statement true (T) or false (F)
Sam uses duress to force Tanya to agree to pay him for protecting her retail store¾Tanya's Trends¾against vandalism and destruction. Tanya may
A. avoid the contract or choose to carry it out. B. do nothing once she has agreed to pay. C. recover from her insurer for the cost D. recover from the local police for a failure to protect her store.