Adjustments at the end of the fiscal period do not need to be journalized and posted if a work sheet has been prepared
Indicate whether the statement is true or false
F
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Total pension expense recognized over the life of a pension plan will be
a. the same as the amount of the cash funding (including interest earned). b. more than the amount of the cash funding (including interest earned). c. less than the amount of the cash funding (including interest earned). d. the amount contributed over the life of the plan less the total actual return on plan assets.
Advent Automobiles Inc. launches a new sport utility vehicle. The company places advertisements in leading newspapers and social media sites to reach out to consumers. In the context of the communication process, Advent Automobiles Inc. is the _____
a. sender b. decoder c. informer d. receiver
Sam Edjidian buys two cars from Silver Strip Auto Sales. One car is for his personal use and one is for his business. The dealer told Sam that both cars were from within the province. This was not put in writing
The dealer believed what he said was true. After purchasing the vehicles, Sam learned they were brought in from another province where safety standards were higher, and where they had both failed the safety tests. There is a standard exemption clause in the purchase agreement Sam signed saying that there are no representations except those in writing. Which of the following statement is TRUE? A) The exemption clause is ineffective for the car that was bought for personal use. B) The exemption clause is ineffective for the car purchased for business use. C) The exemption clause is ineffective in both agreements. D) The exemption clause is effective in both agreements. E) The exemption clause is ineffective in British Columbia only
Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. Use only one letter for each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NVancouver Co. paid a $50,000 cash dividend to its shareholders on July 5, Year 1, which was 2 months after Vancouver declared the dividend.AssetsLiabilitiesEquityRevenuesExpensesNetIncomeCash Flow? ?????
What will be an ideal response?