Answer the following statements true (T) or false (F)
1. Accounts that increase on the credit side are Liabilities, Common Stock, Revenues and Retained Earnings (LCR).
2. Normal balance refers to the expected balance of an account, and identifies the side of the account (Debit or Credit) to which increases are recorded.
3. The normal balances for prepaid rent and rent expense would both be a debit.
4. The normal balances for salary expense and salary payable would both be a credit.
5. The general journal was developed to organize transactions by account.
1. TRUE
2. TRUE
3. TRUE
4. FALSE
5. FALSE
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Arbitrage opportunities represent a disadvantage of international expansion.
Answer the following statement true (T) or false (F)
You should create your graphics __________________
a. first in black and white b. before you write your text c. after you write your first draft d. after you finalize your document
[The following information applies to the questions displayed below.] Red and White Company reported the following monthly data:Units produced 2,000unitsSales price$25per unitDirect materials$1per unitDirect labor$2per unitVariable overhead$3per unitFixed overhead$8,000in totalWhat is Red and White's net income under absorption costing if 980 units are sold and selling and administrative expenses are $12,000?
A. $(1,380) B. $10,620 C. $(2,000) D. $2,700 E. $6,620
Leslie, creative director for Visionary Ad Agency, is observing a focus group for four-wheel-drive SUVs. Before developing the creative brief, Leslie also conducts attitude studies, positioning studies, and lifestyle research studies. In this scenario, Leslie is gathering ________
A. channel stuffing reports. B. general preplanning input. C. secondary internal data. D. vendor lock-in data. E. product-specific preplanning input.