The costs of doing business through the sale of goods and services are called
a. Net income
b. Expenses
c. Revenues
d. Dividends
b
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The Merchandise Inventory account balance is $52,000. A physical count of inventory reveals that the actual inventory balance is $41,000. Which of the following would be included in the adjusting entry? (Assume a perpetual inventory system.)
A) a $41,000 credit to Merchandise Inventory B) a $52,000 debit to Cost of Goods Sold C) a $11,000 credit to Cost of Goods Sold D) a $11,000 credit to Merchandise Inventory
In a negotiation, individuals in the accommodating mode are the exact opposite of competing people.
Answer the following statement true (T) or false (F)
Services are provided for customers who pay for the services immediately. For this transaction, identify the effect on the accounting equation
a. Assets increase and liabilities increase. b. Assets increase and stockholders' equity increases. c. Liabilities increase and stockholders' equity decreases. d. Liabilities decrease and assets decrease.
According to the provisions of the Data Protection Law, individuals or organizations that receive _____ not directly from the subject must identify themselves to the subject.
Fill in the blank(s) with the appropriate word(s).