A cash refund paid to a customer who overpaid an account receivable is recorded in the cash payments journal
Indicate whether the statement is true or false
True
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They agreed to admit Ramelow into the business for a one-fifth interest in the new partnership. Ramelow contributes $27,000 cash in exchange for the partnership interest. Assume that Floyd and Merriam shared profits and losses in a 3:1 ratio before the admission of Ramelow. Which of the following is the correct journal entry to record the above admission?
Floyd and Merriam start a partnership business on June 12, 2019. Their capital account balances as of December 31, 2020 stood as follows:
A deferral is the recognition of an expense that has arisen but not yet recorded
Indicate whether the statement is true or false
A marketing manager has just learned about generic markets. This may lead the manager
A. to see a larger set of potential competitors. B. to think about new ways of satisfying the needs of his or her current customers. C. to put less emphasis on market penetration or market development opportunities and more emphasis on product development opportunities. D. All these answers are correct.
Cost-plus pricing is not a very effective strategy for maximizing profits.
Answer the following statement true (T) or false (F)