What currency currently serves as the world's primary vehicle currency?
A) Japanese yen
B) British pound
C) U.S. Dollar
D) European euro
Answer: C
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Kenai Company sold $600 of merchandise to a customer who used a National Bank credit card. National Bank deducts a 3% service charge for sales on its credit cards. Kenai electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record the collection from the credit card company would be:
A. Debit Accounts Receivable-National $582; debit Credit Card Expense $18 and credit Sales $600. B. Debit Cash $582 and credit Sales $582. C. Debit Cash of $618 and credit Accounts Receivable-National $618. D. Debit Cash of $618; credit Credit Card Expense $18 and credit Sales $600. E. Debit Cash $582; debit Credit Card Expense $18 and credit Sales $600.
Although all of the following apply, which one is the primary purpose for establishing professional codes of ethics and standards of performance?
A. Protect the clients D. Support professional privileges B. Maintain the public trust E. Enable a field to become a profession C. Protect the professional franchise
On the orders of their corporate employer, Della and Efron, employees of Fabulous Fashionista, a clothing store, switch trademarks on clothing that comes into the store to be sold to consumers. This is most likely
A. forgery. B. larceny. C. robbery. D. no crime.
The consumer “bill of rights” includes the right to:
a. waste b. safety c. national origin d. freedom e. religion