Change in prices is an important economic indicator because it is a measurement of consumers' purchasing power
Indicate whether the statement is true or false
TRUE
Explanation: When prices increase, the purchasing power of the dollar decreases. This eventually leads to an increase in wages in order to compensate. Businesses must then increase the prices of their goods and services in order to cover the higher cost of labor.
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When merchandise is acquired on account and the perpetual inventory system is kept, the journal entry for purchases would include
a. debiting Purchases and crediting Accounts Payable; b. debiting Accounts Payable and crediting Merchandise Inventory; c. debiting Merchandise Inventory and crediting Accounts Payable; d. debiting Accounts Payable and debiting Purchases; e. debiting Cash and crediting Purchases
A researcher should decide what characteristics the field workers should have when selecting field workers
Indicate whether the statement is true or false
Which of the following statements about communication in today's business organizations is most accurate?
A) Many companies used intranets to communicate with customers, outside vendors, and governmental agencies. B) Smartphones and tablet computers are prevalent in the workplace but do not have the capabilities to replace laptops and personal computers. C) Wireless access is increasingly blanketing entire office buildings, airports, hotels, restaurants, school and college campuses, cities, and other public spaces. D) The most common workplace use of tablet computers is blogging.
The entire difference between the actual manufacturing overhead cost for a period and the applied manufacturing overhead cost is typically closed to the Work In Process account.
Answer the following statement true (T) or false (F)