Cash withdrawals by owners decrease assets and increase equity

Indicate whether the statement is true or false

False

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On March 12, Klein Company sold merchandise in the amount of $8400 to Babson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4800. Klein uses the perpetual inventory system and the net method of accounting for sales. On March 15, Babson returns some of the merchandise, which is not defective. The selling price of the returned merchandise is $660 and the cost of the merchandise returned is $380. The entry or entries that Klein must make on March 15 is (are):

A.

Accounts receivable660? 
  Sales returns and allowances 660?

B.
Sales returns and allowances640? 
  Accounts receivable 640?
Merchandise inventory369? 
  Cost of goods sold 369?

C.
Sales returns and allowances640? 
  Accounts receivable 640?
Merchandise inventory380? 
  Cost of goods sold 380?

D.
Sales returns and allowances380? 
  Accounts receivable 380?

E.
Accounts receivable660? 
  Sales returns and allowances 660?
Cost of goods sold380? 
  Merchandise inventory 380?

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When Fulton University built its first dormitories, it hired a consulting engineer to advise the university in choosing an architectural firm and contractor. For Fulton University, building its first dormitories represented what kind of buying situation?

What will be an ideal response?

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Any cash flows that can be classified as incremental to a particular project?i.e., results directly from the decision to undertake the project?should be reflected in the capital budgeting analysis.

Answer the following statement true (T) or false (F)

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Workspace can inspire informal and productive encounters if it balances what three physical and social aspects?

A) proximity, privacy, and persuasion B) privacy, persuasion, and permission C) proximity, privacy, and permission D) proximity, persuasion, and permission E) proximity, persuasion, and passion

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