Which account below is not an Expense account?
A. Rent
B. Accounts Payable
C. Advertising
D. Utilities
Answer: B
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Which one of the following statements regarding the gross profit method is not true?
A) The gross profit method is not a practical method to use in real-world situations. B) The gross profit method is often used to estimate the year-end inventory for comparison to actual on-hand inventory. C) The gross profit method is an acceptable method to estimate the cost of inventory destroyed by a casualty. D) The gross profit method results in a less accurate inventory valuation than the retail inventory method.
Which statement is NOT true about bacteria?
A. Bacteria have a cell wall that contains peptidoglycan. B. Some are motile due to flagella. C. Some are photosynthetic. D. Bacteria contain membrane bound organelles. E. All bacteria are prokaryotes.
Market interest rate is another term for effective interest rate
Indicate whether the statement is true or false
Which of the following is an unrealized decrease in net worth?
a. Salaries b. Change in current value of securities c. Personal expenditures d. Dividends