Departmental accounting reports are used to evaluate one department and to compare different departments within a company
Indicate whether the statement is true or false
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On January 2, 20x5, Clair Inc signed a 9% mortgage payable for $200,000 with equal monthly payments of $2,400. When Clair makes the second payment, how much interest expense will be recorded?
A) $0 B) $1,494. C) $1,500. D) $1,482.
L. Lane received $12,000 from a tenant on December 1 for four months' rent of an office. This rent was for December, January, February, and March. If Lane debited Cash and credited Unearned Rental Income for $12,000 on December 1 . what necessary adjustment would be made on December 31?
a. Unearned Rental Income ............. 3,000 Rental Income .................... 3,000 b. Rental Income ...................... 3,000 Unearned Rental Income ........... 3,000 c. Unearned Rental Income ............. 9,000 Rental Income .................... 9,000 d. Rental Income ...................... 9,000 Unearned Rental Income ........... 9,000
_________________ is the way an organization reacts to outside influences.
a. Micro integration b. External adaptation c. Environmental diversification d. Internal integration
Lex meractoria refers to:
a. ancient Egyptian trade law b. Greek law regarding international crimes c. African trade rules d. Roman law regarding banks e. none of the other choices are correct