Match the following definitions and terms by placing the letter that identifies the bestdefinition in the blank space next to the term.____ 1. Source documents____ 2. Debit____ 3. Posting____ 4. Double-entry accounting____ 5. Ledger____ 6. Journal____ 7. Account____ 8. Credit____ 9. T-account____ 10. Trial balanceA. Decrease in an asset, dividend and expense account, and increase in a liability, common stock and revenue account; recorded on the right side of a T-account. B. A record containing all the accounts of a company and their balances. C. An accounting system where each transaction affects and is recorded in at least two accounts; the sum of the debits for each entry must equal the sum of its credits.D. A company's record of each transaction in one place that shows debits and
credits for each transaction.E. An increase in an asset, dividend, and expense account, and decrease in a liability, common stock, and revenue account; recorded on the left side of a T-account.F. A record of the increases and decreases in a specific asset, liability, equity, revenue, or expense item.G. A representation of a ledger account used to understand the effects of transactions.H. A list of accounts and their balances at a point in time.I. The process of transferring journal entry information to the ledger accounts.J. Identify and describe transactions and events entering the accounting system.
What will be an ideal response?
1. J; 2. E; 3. I; 4. C; 5. B; 6. D; 7. F; 8. A; 9. G; 10. H
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Each attribute in a table can have several names.
Answer the following statement true (T) or false (F)
Distinguishing a stock dividend from a stock split can sometimes cause difficulties. Usually firms treat small-percentage distributions, say less than a _____ increase in the number of shares, as stock dividends and larger ones as stock splits
a. 5% b. 10% c. 25% d. 50% e. 100%
Answer the following statements true (T) or false (F)
1. Most research supports the notion that dissatisfaction and frustration on the job is more likely to motivate someone to vote "yes" in a union election than maximizing wages. 2. A factor often identified as important for determining whether dissatisfied workers will vote for a union is their attitude towards unions in general. 3. The degree to which an individual thinks a union will be successful in improving the workplace is known as union instrumentality. 4. Union instrumentality is less likely to determine whether someone votes "yes" in a union election than factors like general attitudes toward unions or the social environment. 5. An individual is more likely to hold positive attitudes toward unions when they have had previous experience with unions in the workplace.
Assume that Jessie and Lester have formed a contract whereby Jessie agrees to deliver 10,000 dozen "Grade A Large Eggs" to be shipped in paper cartons. A shortage of paper makes paper cartons much more expensive, so Jessie uses styrofoam cartons and ships the eggs. Lester is entitled to cancel the contract based on a material breach of the contract
a. True b. False Indicate whether the statement is true or false