The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the

a. FRS provides information to internal and external users; the MRS provides information to internal users
b. FRS provides discretionary information; the MRS provides nondiscretionary information
c. FRS reports are prepared using information provided by the General Ledger System; the MRS provides information to the General Ledger System
d. FRS reports are prepared in flexible, nonstandardized formats; the MRS reports are prepared in standardized, formal formats

A

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A. bias based on known fact about gender differences B. bias based on the typically male gender leadership roles C. bias based on the typically female gender leadership roles D. bias based on gender stereotypical characteristics

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Which of the following views on outsourcing would be consistent with the free market ethics approach advocated by Milton Friedman?

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Use the following account balances from the adjusted trial balance columns of Goody Chocolate's worksheet to answer below question. AccountDebit BalanceCredit Balance Cash 10,000     Merchandise Inventory 4,000     Accounts Payable    2,200  A. Goody, Drawing 1,000     A. Goody, Capital    6,000  Sales    24,000  Sales Discounts 200     Purchases 12,000     Salaries Expense 7,500     Income Summary 1,500  4,000  Using the adjusted trial balance above, select the correct closing entry that Goody Chocolate would make to close the expense accounts (and cost of goods sold accounts with debit balances) at the end of the accounting period.

A.

     
Income Summary 2,500  
A. Goody, Capital   2,500

B.
     
Income Summary 19,700  
Sales Discounts   200
Purchases   12,000
Salaries Expense   7,500

C.
     
Purchases 12,000  
Salaries Expense 7,500  
Income Summary   19,500

D.
     
Income Summary 19,700  
Expense Accounts   19,700

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