A credit memorandum for $42 (sales price of merchandise, $40; sales tax, $2) was issued to a customer for goods returned that had been purchased on account. To properly enter this transaction, Sales would be debited for
a. $2; b. $40; c. $42; d. the amount of the original sale; e. $0 because Sales should not be debited.
E
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The utility of any given test generally increases as the selection ratio gets higher.
Answer the following statement true (T) or false (F)
How has do-not-call legislation helped direct marketers?
A) Marketers are compensated by the Federal Trade Commission for lost sales caused by the laws. B) Direct marketers have outsourced their activities to firms that are exempt from such laws. C) Direct marketers have developed kiosks as an alternative to telemarketing. D) Telemarketers are allowed to call customers for a small fee. E) Telemarketers have developed opt-in calling systems that target consumers who have chosen to be contacted and therefore are less invasive.
When selling a piece of equipment for cash, a loss will result when the proceeds of the sale are less than the book value of the asset
Indicate whether the statement is true or false
The ________ doctrine holds that courts should apply the law of the state that has the most interest in determining the outcome of the dispute
A. act of state B. vested rights C. most significant relationship D. governmental interest