The lower-of-cost-or-market rule demonstrates accounting conservatism in action
Indicate whether the statement is true or false
TRUE
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Russell Co. received a $400 utility bill for the current month's electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Russell Co. make to record the receipt of the bill?
A.
| Cash | 400 | |
| Utilities Expense | 400 |
B.
| Accounts Payable | 400 | |
| Utilities Expense | 400 |
C.
| Utilities Expense | 400 | |
| Accounts Receivable | 400 |
D.
| Utilities Expense | 400 | |
| Accounts Payable | 400 |
E. No journal entry is required.
Which of the following describes an RFID reader (RFID interrogator)?
A. Has its own transmitter and a power source (typically a battery). B. Does not have a power source. C. An electronic identification device that is made up of a chip and antenna. D. A transmitter/receiver that reads the contents of RFID tags in the area.
Calculate the range of the following raw responses: 2, 3, 3, 4, 5, 5, 6, 6, 6, 7, and 8.
A. 6 B. 4 C. 5 D. 8 E. 7
Some of the nonadvertising services performed by full-service agencies are performing research, selecting media, designing packages, and producing sales promotions.
Answer the following statement true (T) or false (F)