Which of the following items is reported on the income statement as an expense?
A. The purchase of supplies
B. This month's utility bill
C. This month's cash sales
D. The purchase of land
Answer: B
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In the CAMELS rating system, which is used to assess the health of the banks, the letter A stands for
A. accounting practices. B. auditing procedures. C. analysis of risk. D. asset quality.
In an automated warehouse, orders are fed directly from the retailer's information system into the wholesaler's, and the items are picked up by mechanical devices and taken to a shipping platform where they are assembled
Indicate whether the statement is true or false
Which of the following best completes the sentence, ‘______ can also alert marketers to impending trouble for crisis communications that might be marked by a shift in the velocity of brand mentions or assess the impact of a public relations crisis.’?
a. Social customer care. b. Social listening. c. Data mining d. Primary research. e. None of these
Norah, who gives music lessons, is a calendar-year taxpayer using the cash-basis method of accounting. On October 1 of this year, she received $1,200 for a one-year contract beginning on that date to provide 10 lessons. She gave 6 lessons this year. How much should Norah include in income this year?
A) $480 B) $360 C) $720 D) $1,200