The bank statement reveals an EFT received from a customer that has not yet been recorded in the ledger. How would this information be included on the bank reconciliation?
A) an addition on the bank side
B) a deduction on the bank side
C) a deduction on the book side
D) an addition on the book side
D
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How can emphasizing differences when discussing diversity backfire?
a. By focusing on inequities b. By risking miscommunication c. By reinforcing stereotypes d. By discounting shared attributes
Data processing systems that performed record-keeping functions that mimicked existing manual procedures were called ______.
a. file-oriented data structures b. small database structures c. data warehouses d. electronic data storage
Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.
Answer the following statement true (T) or false (F)
A company that uses the net method of recording purchases and a perpetual inventory system purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. The correct journal entry to record the payment on July 28 is:
A. Debit Merchandise Inventory $1,600; credit Cash $1,600. B. Debit Accounts Payable $1,800; credit Cash $1,800. C. Debit Accounts Payable $1,600; credit Merchandise Inventory $32; credit Cash $1,568. D. Debit Cash $1,600; credit Accounts Payable $1,600. E. Debit Accounts Payable $1,568; debit Discounts Lost $32; credit Cash $1,600.