Answer the following statements true (T) or false (F)
The asset-liability approach is arguably superior to a revenue-expense approach to defining accounting elements.
ANSWER: T
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Marsh Corporation borrowed $90,000 by issuing a 12%, six-month note payable, all due at the maturity date. After one month, the company's total liability for this loan amounts to:
a. $91,800 b. $90,900 c. $90,450 d. $90,000
Which of the following is usually not part of an ERP's core applications?
a. OLTP applications b. sales and distribution applications c. business planning applications d. OLAP applications
In which of the following promotion tools does a customer send a proof of purchase to a manufacturer, who then refunds part of the purchase price by mail?
A) rebate B) coupon C) sample D) premium E) price pack
The excess of divisional income from operations over a minimum amount of divisional income from operations is termed:
A) profit margin B) residual income C) rate of return on investment D) gross profit