Which of the following accounts has a normal credit balance?
A. Utilities Expense
B. Equipment
C. Deferred Revenue
D. Accounts Receivable
Answer: C
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The Truth in Lending Act applies to credit extensions made to
A. merchants. B. commercial banks. C. businesses. D. consumers.
Which of the following is a monetary award typically given for particularly outstanding sales performance?
A) a salary B) an incentive payment C) a trade allowance D) a spiff
Videoconferencing brings people at different sites together for a meeting where, with the help of technology, they can see still images or real-time video images of each other
Indicate whether the statement is true or false
Health Defense sells first aid kits and uses the periodic inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows:January 1: Beginning balance of 18 units at $13 eachJanuary 12: Purchased 30 units at $14 eachJanuary 19: Sold 24 units at a selling price of $30 eachJanuary 20: Purchased 24 units at $17 eachJanuary 27: Sold 27 units at a selling price of $30 eachIf the ending inventory is reported at $357, what inventory method was used?
A. FIFO. B. Specific identification. C. Weighted average. D. Retail inventory method. E. LIFO.