A purchase on account with an invoice price of $750 has been made. The entry to record the payment after the 2 percent discount period would include a(n)
a. decrease to Accounts Payable for $750.
b. decrease to Purchases Discounts for $15.
c. increase to Accounts Payable for $735.
d. decrease to Cash for $735.
A
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Which of the following is an example of an action based on an internal assessment?
a. A restaurant adds smoothies to its menu after reading a report that Generation Z consumers appreciate freshness and customizability in menus. b. A restaurant decides to open earlier on weekends after receiving many calls from customers trying to make brunch reservations. c. A restaurant signs up with a third-party delivery service to compete with other restaurants on the service. d. A restaurant decides to sign on and use UBER because all the competitors are increasing their revenue this way and there is no insurance cost to the restaurant.
If bonds are issued at a discount, it means that the
A) bondholder will receive effectively less interest than the contractual rate of interest. B) market interest rate is lower than the contractual interest rate. C) market interest rate is higher than the contractual interest rate. D) financial strength of the issuer is suspect.
Recent research indicates that approximately ________ of consumers search for and purchase a low-priced product using an in-store shopping app or online search engine.
A. 40% B. 75% C. 5% D. 20% E. 90%
An expense that has been incurred but not yet paid is called a(n) ________
A) accrued revenue B) deferred expense C) deferred revenue D) accrued expense