Which of the following is not true about closing entries?
A) There are four closing entries that update the owner's equity account.
B) After the second closing entry, the income summary account is equal to the net income or (loss) for the period.
C) All real accounts are closed at the end of the period.
D) By closing nominal accounts at the end of the period to zero, it is possible to isolate next period's information correctly.
C
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Calculate the total sales of a product if the market demand for the product now in the early growth stage of the product life cycle is 2 million units annually, and the product captures 15 percent of this demand with a price of $50 per unit
A) $100 million B) $15 million C) $30 million D) $50 million E) $75 million
Which of the following statements is true about an appeal?
A) When a case is appealed, a new trial is held. B) The losing party can appeal a case even if it does not allege a prejudicial error of law. C) The court to which a case is appealed depends on the court in which the case was originally heard. D) When a case is appealed, only the appellant has to file briefs in the court of appeals.
The sentence The presentation was given by Barry is in the ________ voice
Fill in the blank(s) with correct word
Which of the following is true with respect to substantial performance?
a. It does not apply to the construction industry. b. Substantial performance does not defeat the purpose of the contract. c. When one party to a contract has substantially performed, the other party cannot recover damages for the imperfect performance. d. All of these.