XBRL GL, or XBRL Global Ledger Taxonomy, is different from XBRL US GAAP because it facilitates:
A. Efficient communication between the firm and financial analysts.
B. Efficient communication between the firm and its customers.
C. Efficient communication within a firm.
D. Efficient communication between the firm and its suppliers.
Answer: C
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According to the textbook, when confronted with change many employees ask themselves questions such as “why” “when” and ______.
a. “how” b. “how fast” c. “what’s in it for me?” d. none of these
When a credit sale takes place,
A) a revenue account will increase. B) liabilities will increase. C) one asset account will increase and another will decrease. D) assets will be unaffected.
Linear approximation is a method of converting nonlinear variable costs into linear fixed costs
Indicate whether the statement is true or false
Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The amount of the cash paid on August 26 equals:
A. $8,250.00. B. $9,750.00. C. $9,652.50. D. $8,167.50. E. $8,152.50.