The adjusting entry to account for the expiration of prepaid advertising consists of:
A. a debit to Advertising Expense and a credit to Accumulated Depreciation.
B. a debit to Advertising Expense and a credit to Prepaid Advertising.
C. a debit to Prepaid Advertising and a credit to Accumulated Depreciation.
D. a debit to Prepaid Advertising and a credit to Advertising Expense.
Answer: B
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After closing the sale, it would be proper to say, "Do you know anyone else who might be interested in this product?"
Indicate whether the statement is true or false
McCann Construction purchased a poured concrete form from Advance Concrete Forms, Inc McCann purchased the concrete form by placing a phone call to Advance in Madison, Wisconsin. Advance delivered the concrete form with an invoice stating the terms of
the sale required payment within 30 days and a 1 1/2 % interest per month finance charge would be charged on accounts over 30 days. When McCann failed to pay the invoice on time, interest was charged according to this rate. Later, McCann refused to pay the accumulated interest charge, claiming there was not a meeting of the minds regarding the finance charge in any conversation prior to the sale. The trial court concluded that the finance charge was in fact an additional term added by Advance when it accepted McCann's purchase order. Discuss Uniform Commercial Code Section 2-207 in general and with regard to this situation. Does McCann owe the interest accrued?
The President of the United States has the authority to issue laws, which are called:
a. Restatements of law. b. executive orders. c. Constitutional amendments. d. codes.
Which of the following is true of a member-managed LLC?
A. Each member has equal rights in the management of the business of the LLC. B. The member with the highest capital contribution becomes the de facto manager of the LLC. C. Any matter relating to the business of the LLC is decided by a unanimous vote of the members. D. Shareholders are not allowed to decide matters relating to the business of the LLC.