The purchase of a good or service that has not yet been paid for is recorded as ________ in the balance sheet
A) accrued expense
B) owners' equity
C) supplier's equity
D) accounts payable
E) deferred expense
Answer: D
Explanation: Accounts payable includes the money the company owes its suppliers as well as money it owes vendors for miscellaneous services (such as electricity and telephone charges).
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Once cash receipts and cash payments have been established, the cash increase or decrease is added to the period's beginning balance to arrive at a projected cash balance at period end
Indicate whether the statement is true or false
Flat projections are:
A. Projections where no new information is used compared to the previous year B. Projections where no new assumptions are made compared to the previous year C. Projections where the total sales will equal what it was last year D. All of the above
When delivering bad news, you should explain the bad news clearly to make your readers understand and, in the best case, accept the bad news
Indicate whether the statement is true or false
Santiago is paying close attention to writing a statement that expresses how his product solves a specific need. What area of TRIM planning is Santiago addressing?
a. team b. resources c. idea d. market