In the perpetual inventory system, no year-end adjusting entry is necessary, as long as the physical inventory agrees with the amount reported in the merchandise inventory account
a. True
b. False
Indicate whether the statement is true or false
True
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If the December 31, 2016, balance of accounts receivable is higher than the January 1, 2016, balance, then the amount of cash collections will be less than the sales on account for the year
a. True b. False Indicate whether the statement is true or false
Corporations rarely issue stock at a discount because firms generally set very low par values, and the practice is even illegal in some states
Indicate whether the statement is true or false
Use simple sentences, but do not omit ___________________
a. any details b. adjectives c. necessary words d. words that contribute to tone
Brand insistence is the strongest degree of brand loyalty but the least common type of brand loyalty.
Answer the following statement true (T) or false (F)