Modern Age Company made total cash sales in February of $666,000, which are subject to 7.5% sales tax. Prepare the summary entry to record the transaction. Omit explanation.
What will be an ideal response?
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If a sole proprietorship business sustains a loss for the period, the closing entries will include a debit to the Capital account and a credit to the Income Summary account
Indicate whether the statement is true or false
If you label a behavior as being unacceptable, who "owns" the problem?
a. No one b. You c. The other person whose behavior is unacceptable b. Both you and the person whose behavior is unacceptable
An estate where the tenant has a right to possess the real property but does not own title to the property is called ________
A) free simple absolute estate B) gifted estate C) nonfreehold estate D) easement estate
Advantages of outsourcing do NOT include:
A) cost savings. B) gaining outside expertise. C) maintaining a focus on core competencies. D) accessing outside technology. E) potential creation of future competition.