Under the perpetual inventory system, the entry to record a purchase return would include a credit to which account?
a. Merchandise Inventory
b. Purchases Returns and Allowances
c. Accounts Payable
d. Sales
A
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The amount of money invested in a financial security or deposited into a financial intermediary is referred to as the
A. principal. B. interest. C. yield. D. capital-gain.
The environmental sustainability strategy of a firm might be used to retain high-performing employees because recent college graduates
A. feel that profitability is not important. B. are loyal to firms that are concerned with employee education. C. seek to make a social or environmental difference in the world. D. want a job in a company that is committed to corporate profit.
Shutters Company adopted a defined benefit pension plan on January 1 . 2014 . Shutters amortizes the prior service cost over 1 . years and funds prior service cost by making equal payments to the fund trustee at the end of each of the first ten years. The service cost is fully funded at the end of each year. The following data are available for 2014: Service cost
.......................................... $440,000 Prior service cost: Amortized ........................................... 166,800 Funded .............................................. 228,800 If interest cost for 2014 is equal to the return on plan assets, then Shutters's prepaid pension cost at December 31 . 2014, is a. $228,800. b. $166,800. c. $62,000. d. $0
When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot
Indicate whether the statement is true or false