A database action that results from a transaction is called a(n):
A) transition.
B) event.
C) log entry.
D) journal happening.
B
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When using the cash payments journal, posting to the accounts payable subsidiary ledger should be done
a. annually; b. monthly; c. weekly; d. daily; e. quarterly.
A local project is one performed in its native country for a resident firm.
Answer the following statement true (T) or false (F)
Bob signed an agreement with Joe under which Bob agreed to purchase all the hay that Joe grew during the coming growing season. This contract will be
A. unenforceable due to its vagueness. B. unenforceable due to the difficulty of devising an appropriate remedy for a breach. C. enforceable as long as both parties act in good faith and Bob doesn't suddenly demand more hay than what was reasonably estimated. D. unenforceable unless state real estate law makes an exception.
Which of the following statements is not part of the budgeting process?
a. Budgets may be developed for short periods such as a month or long periods such as a year. b. Usually budgeting procedures begin at the department level and move downward. c. The ultimate result in the budgeting process is to create a master budget. d. A budget committee reviews and revises various estimates of income and expenses submitted by other employees.