A debit card is a method of payment whereby a third party, for a fee, removes from the collector the risk of non-collection of the account receivable
Indicate whether the statement is true or false
F
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Which steps in the Financial Accounting Process are in the correct sequence?
a. record the transaction, post to the ledger, prepare the adjusted trial balance, enter adjusting entries, prepare financial statements b. record the transaction, prepare the unadjusted trial balance, record adjusting journal entries, record closing entries, prepare financial statements c. record the transaction, post to the ledger, record adjusting entries, prepare the unadjusted trial balance, prepare financial statements d. record the transaction, post to the ledger, prepare the adjusted trial balance, prepare financial statements, record closing entries
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Indicate whether the statement is true or false
[The following information applies to the questions displayed below.] Nelson Company experienced the following transactions during Year 1, its first year in operation.1) Acquired $12,000 cash by issuing common stock 2) Provided $4,600 of services on account 3) Paid $3,200 cash for operating expenses 4) Collected $3,800 of cash from customers in partial settlement of its accounts receivable 5) Paid a $200 cash dividend to stockholders What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1?
A. $13,400 B. $13,200 C. $12,400 D. $12,600
Which of the following is the most used form of digital written communication in the business world?
A) blogs B) wikis C) email D) chat rooms E) social networks