A ______ is an example of a liquid asset.
?
A. fixed deposit of 3 years
B. savings account
C. tax
D. retirement account
E. car
Answer: B
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The cost of replacing an engine in a truck is an example of ordinary maintenance
a. True b. False Indicate whether the statement is true or false
The purchase of office equipment on credit has what effect on the accounting equation?
a. Assets increase and liabilities increase b. Liabilities increase and stockholders' equity decreases. c. Assets decrease and stockholders' equity decreases d. Assets decrease and liabilities decrease.
Activity-based costing is appropriate for a company that has high overhead costs that are not proportional to unit volumes of individual products
Indicate whether the statement is true or false
A master budget worksheet can be prepared on the same form that is used for the income statement
Indicate whether the statement is true or false.