An important purpose of closing entries is to
a. help in preparing financial statements.
b. set real account balances to zero to begin the next period.
c. set nominal account balances to zero to begin the next period.
d. adjust the accounts in the ledger.
C
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Direct labor is a
A) non-production cost. B) period cost. C) nonmanufacturing cost. D) product cost.
Compare the following statements to determine which one is accurate regarding marketing analytics.
A. Marketing analytics has not proven to be helpful in the allocation of resources. B. Marketing analytics is useful for analyzing the performance of products, but not for analyzing the performance of services or ideas. C. Budgets related to marketing analytics are expected to decline in the coming years. D. The advent of the Internet has reduced the need for marketers to engage in marketing analytics. E. The pressure to be more data driven has played a large role in the growing use of marketing analytics.
A fabrication line and an assembly line are both types of repetitive and product-focused layout, but only the fabrication line utilizes workstations
Indicate whether the statement is true or false
Assume that Tom rents an apartment from Larry with the understanding that either can terminate the lease by giving the other 30 days notice. What is the name of this type of lease?
a. tenancy for years b. periodic tenancy c. monthly tenancy d. fixed-period tenancy