Which of the following accounts is not closed during the closing procedure?
a. Income Summary
b. Commissions Earned
c. Retained Earnings
d. Dividends
C
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A ______ is an extension of the resume and can be used to highlight creative activities such as photography and art work.
a. portfolio b. cover letter c. thank-you letter d. profile page
If a leader believes that there could be situations where the leader should “bend” the truth to best serve the needs of the organization, then she would believe in ______.
a. servant leadership b. universalism c. relativism d. none of these
The beginning work in process inventory is 60 percent complete, and the ending work in process inventory is 50 percent complete. The dollar amount of the production cost included in the ending work in process inventory (using the average cost method) is determined by multiplying the average unit costs by what percentage of the total units in the ending work in process inventory?
a. 100 percent b. 60 percent c. 55 percent d. 50 percent
Karlovsky and Sons Inc, a retail corporation, reports financial losses for three years in a row. Two larger corporations, Gatsby Retail Inc and Chelsea Sales Corp compete to acquire Karlovsky and Sons
Initially, Chelsea places a higher bid than Gatsby Retail but eventually backs out of the merger. In the end, a Boston-based multinational company (MNC) named J.Y. Corp acquires Karlovsky and Sons and permits the latter to expand as a wholesaler. Which of the following is the surviving corporation in this scenario? A) Gatsby Retail Inc. B) Chelsea Corp. C) J.Y. Corp. D) Karlovsky and Sons