Answer the following statements true (T) or false (F)
1. If a bank reconciliation includes interest revenue collected by a bank, a journal entry is required which credits Cash and debits Interest Revenue.
2. In a bank reconciliation, a NSF check will be shown on the book side of the reconciliation.
3. The difference that arises between the balance on the bank statement and the balance on the companys books because of a time lag in recording transactions is known as a permanent difference.
4. The difference that arises between the balance on the bank statement and the balance on the company&s books because of a time lag in recording transactions is known as a timing difference.
1. FALSE
2. TRUE
3. FALSE
4. TRUE
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Which of the following entries would not require an eliminating entry when one is preparing consolidated financial statements?
a. Amount owed by subsidiary to parent b. Investment in subsidiary c. Amount owed by parent to subsidiary d. Sale to customer
A "think-local, act-local" multidomestic type of strategy
A. is more appealing when the country-to-country differences in buyer tastes, cultural traditions, and market conditions are diverse. B. is very risky, given fluctuating exchange rates and the propensity of foreign governments to impose tariffs on imported goods. C. can defeat a global strategy if the "think-local, act-local" multicountry strategist concentrates its efforts exclusively in those foreign markets which have superior resources. D. is usually defeated by a "think-global, act-global" type of strategy. E. is generally an inferior strategy when one or more foreign competitors are pursuing a global low-cost strategy.
Which of the following is a fatal mistake entrepreneurs can make when doing their venture concept reality check research?
a. Talking to too many target customers b. Failing to talk to that magic number of 100 customers c. Failing to gain target customer insight with regard to the go-to-market aspects of the venture d. Failing to talk to all competitors
Independent demand items are typically ______.
a. finished products whose demand is determined by external marketing conditions b. intermediate products whose demand depends on the demand for finished products c. raw materials whose demand depends on the demand for finished products d. semifinished products whose demand depends on the demand for finished products