A debit balance in Retained Earnings is:
A. called an Accumulated Deficit.
B. called a net loss.
C. impossible.
D. an indication of a contra-equity account.
Answer: A
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On January 1, 2016, ABC, Inc purchased a copier for $9,000 cash and decided to depreciate it over 5 years. What amounts associated with the copier will appear on ABC's financial statements for the year ending December 31, 2016? Income Statement Statement of Cash Flows
a. ($1,800) ($9,000) b. ($1,800) $ 0 c. ($9,000) $ 0 d. None of these choices.
On a work sheet, the Debit columns of the Income Statement and the Balance Sheet sections both total more than the Credit columns. This represents
a. an error in the accounting procedures for the period; b. a net loss; c. a net income; d. accumulated depreciation and other expenses; e. unearned revenue.
An ________ is an agency that occurs when a principal and an agent do not expressly create an agency, but it is inferred from the conduct of the parties.
A. apparent agency B. acknowledged agency C. exclusive agency D. implied agency
What type of marketing strategy is a company using if it consciously addresses customers, markets, and competition throughout the world?
A. a global marketing strategy B. an import/export strategy C. an international trade agreement D. a foreign investment agreement E. a domestic market strategy