Owners of small businesses do not have to pay personal taxes on their salaries and other ownership-related income they withdraw from the business.
Answer the following statement true (T) or false (F)
False
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A ______ strategy means an organization is growing aggressively in its existing line(s) of business.
a. integration b. diversification c. concentration d. stability
On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Jepson makes on September 18 is:
A.
| Accounts payable | 5,800 | |
| Purchases discounts | 116 | |
| Cash | 5,684 |
B.
| Cash | 5,684 | |
| Accounts receivable | 5,684 |
C.
| Purchases | 5,684 | |
| Cash | 5,684 |
D.
| Accounts payable | 5,800 | |
| Merchandise inventory | 116 | |
| Cash | 5,684 |
E.
| Cash | 5,684 | |
| Purchases discounts | 116 | |
| Accounts payable | 5,800 |
Explain the differences in the different forms of concurrent real property ownership
What will be an ideal response?
A guarantor can be required to pay an obligation only after the principal debtor defaults
Indicate whether the statement is true or false