Which of the following statements is true of a trial balance?
A) A trial balance has the same format as a balance sheet.
B) A trial balance presents data in debit and credit format.
C) A trial balance shows the total amounts of assets and liabilities, but not equity.
D) A trial balance is prepared after the balance sheet.
Ans: B) A trial balance presents data in debit and credit format.
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Accrued revenues:
A. Are listed on the balance sheet as liabilities. B. At the end of one accounting period result in cash receipts in a future period. C. Are recorded at the end of an accounting period because cash has already been received for revenues earned. D. At the end of one accounting period often result in cash payments in the next period. E. Are also called unearned revenues.
Which trade barrier uses a tax method?
a. tariffs b. quotas c. embargos d. subsidies
Which of the following advertising situations would LEAST likely be considered puffery?
A) a mother of small children declaring that a packaged meal "rescued my day" B) a young woman saying that a new abdominal exercise machine was more motivating than her old workout routine C) a milk advertisement claiming that the calcium in milk promotes healthy bone growth D) a retired couple drinking a vitamin and protein shake and then saying, "It makes us feel young again" E) a sleepy man waking up to a gray day, drinking a cup of coffee, and then looking out his window to see golden sunshine, beautiful flowers blooming, songbirds singing, and a rainbow on the horizon
Answer the following statements true (T) or false (F)
Critical accounting research assumes a sharp separation between the researcher and his or her field of investigation.