Event selection should be primarily based upon how well the topic of the event aligns with the firm's annual sales budget
Indicate whether the statement is true or false
FALSE
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People who file voluntary petitions:
A. must be able to allege that they have debts. B. must be insolvent. C. seek to have the debtors' assets distributed among the trustees. D. must have 12 or more creditors.
Changes in labor supply can place limits on the strategies available to firms.
Answer the following statement true (T) or false (F)
Which of the following errors would cause the debit side of a trial balance to be larger than the credit side?
A. Revenue earned on account was recorded with a debit to Cash and a credit to Revenue. B. Land purchased with cash was recorded with a debit to the Land account and a credit to Accounts Payable. C. Purchase of supplies on account was recorded with a credit to Supplies and a debit to Accounts Payable. D. None of these answer choices would cause the debit side of the trial balance to be larger than the credit side.
Buffalo Company reported a December 31 ending inventory balance of $412,000. The following additional information is also available:The ending inventory balance of $412,000 did not include goods costing $48,000 that were purchased by Buffalo on December 28 and shipped FOB destination on that date. Buffalo did not receive the goods until January 2 of the following year. The ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. The net realizable value of the damaged goods was $10,000. Based on this information, the correct balance for ending inventory on December 31 is:
A. $374,000 B. $438,000 C. $384,000 D. $460,000 E. $422,000