Partners' Withdrawals accounts have normal debit balances
Indicate whether the statement is true or false
True
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A company had revenues of $61,500 and expenses of $47,000 for the accounting period. Dividends of $6750 were paid in cash during the same period. Which of the following entries could not be a closing entry?
A. Debit Income Summary $14,500; credit Retained earnings $14,500. B. Debit Revenues $61,500; credit Income Summary $61,500. C. Debit Retained earnings $6750, credit Dividends $6750. D. Debit Income Summary $47,000, credit Expenses $47,000. E. Debit Income Summary $61,500; credit Revenues $61,500.
Contrast the following types of bonds:(a) Secured and unsecured.(b) Term and serial.(c) Callable and convertible.
What will be an ideal response?
An advantage of publicity over other forms of promotion is its credibility.
Answer the following statement true (T) or false (F)
In U.S. v. United States Gypsum, regarding sharing of price information by gypsum makers, the Supreme Court held that:
a. the gypsum industry is so small that it simply could not conspire to restrain information b. the case was subject to a per se rule against price fixing, so it was illegal c. the gypsum industry, being part of construction, is exempt from antitrust laws d. the gypsum industry is so small information sharing is essential e. none of the other choices