Reversing entries are recorded in response to external transactions that were created in error during the prior accounting period.
Answer the following statement true (T) or false (F)
False
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The amount of federal income taxes withheld from an employee's gross pay is recorded as a(n)
a. payroll expense b. contra account c. asset d. liability
Recently, ________ became the first country to legalize child labor from the age of 10.
A. Colombia B. Ecuador C. Peru D. Bolivia
A cost that will not be affected by later decisions is termed a sunk cost
Indicate whether the statement is true or false
Mara needs to defuse a rather tense situation in which one of her staff members is clearly angry. Which of the following should she avoid when calming the angry employee?
A. Hold all conversations in private. B. Recognize the employee's legitimate concerns or feelings. C. Keep the discussion as subjective as possible. D. Listen to the employee with an open mind and nonjudgmental behavior.