Which of the following happens during the planning phase of project management?
A. Form the team.
B. Document and report progress.
C. Perform project tasks.
D. Revise budget.
E. Disband team.
Answer: D
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Jenning Co adjusts its books each month but closes its books at the end of the year. The trial balance at July 31 before adjustments is as follows: Debit Credit Cash $12,920 Accounts Receivable 9,620 Supplies 1,400 Prepaid Insurance 3,120 Equipment 26,000 Accumulated Depreciation—Equipment $10,400 Unearned Service Revenue 6,500 Capital Stock 7,190 Retained Earnings 23,500 Dividends 1,560
Service Revenue 16,510 Wages and Salaries Expense 7,800 Utilities Expense 380 Rent Expense 1,300 $64,100 $64,100 Refer to the trial balance for Jenning Co Employees are owed $750 for services since the last payday in July, to be paid the first week in August. The amount to be reported in the July income statement for salaries expense is: a. $750 b. $8,550 c. $7,050 d. $7,800
In U.S. business history, the marketing concept became a motivating force during ________.
A. the mid-1980s B. the 1920s C. the early years of the Civil War D. the first few years of the 21st century E. the 1950s
Which of the following could be a component of other comprehensive income (loss)?
A) realized gains or losses from sale of investments in available-for-sale securities B) translation adjustments from converting the financial statements of a company's foreign operations into U.S. dollars C) gains (losses) on extraordinary items D) warranty liability adjustments
At the end of the accounting period, a physical inventory usually is not needed if a perpetual inventory system has been used
Indicate whether the statement is true or false