Which of the following accounts would be closed at the end of the accounting period with a debit?
A. Operating Expenses.
B. Cost of Goods Sold.
C. Sales.
D. Sales Discounts.
E. Sales Returns and Allowances.
Answer: C
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The ________ environment consists of factors that affect consumer purchase ability and buying behavior
A) cultural B) political C) technological D) economic E) legal
Which of the following multinational management orientations considers the culture of the country in which the firm is located without a common corporate framework?
a. ethnocentric b. polycentric c. geocentric d. regiocentric
A hotel using yield management would ________ prices if demand is higher than expected only if the expected result is ________
Fill in the blank(s) with the appropriate word(s).
Shadow Services uses the accrual method and reports on a calendar year. This year Shadow agreed to a uniform-cleaning contract with Odie Cleaning. Under the contract Odie bills Shadow for cleaning services as the services are provided. At year-end Shadow paid Odie $2,350 for the services rendered during the year. In addition, Shadow paid Odie $700 for cleaning services expected in January of next year. What amount, if any, can Shadow deduct for the cleaning services this year?
What will be an ideal response?