The closing process includes which of the following?
A. Closing the balance of only the dividends account to zero.
B. Closing the balances of revenue, expense and dividend accounts to zero.
C. Closing the balance of the retained earnings account to zero.
D. Closing the balances of only revenue and expense accounts to zero.
Answer: B
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If assets are $365,000 and equity is $120,000, then liabilities are:
A. $610,000. B. $245,000. C. $120,000. D. $365,000. E. $485,000.
What is profit when the optimal values of soap and shampoo are produced?
The Salt Creek Soap Company has determined the following nonlinear model to determine the optimal pounds of industrial soap (X1) and shampoo (X2) it should produce each day. Maximize Z = X12 + 2X22 - 8X1 - 12X2 + 34 Subject to: X1 + 2X2 = 4 lbs A) Z = 12 B) Z = 14 C) Z = 16 D) Z = 18
Tyler is self-employed and alters some receipts so he will show more expenses and therefore have a greater total of income tax deductions. Tyler has:
a. committed the crime of extortion. b. engaged in securities fraud. c. engaged in no criminal activity. d. committed the crime of forgery.