Adjusting entries are unnecessary for transactions that do not involve revenue or expense activities, such as selling common stock or paying dividends.
Answer the following statement true (T) or false (F)
True
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Which of the following statements is not true relating to a defined contribution pension plan?
a. A defined contribution plan defines the contributions of the company to the pension plan. b. Once the defined contribution is paid, the company has no further obligation to the pension plan. c. This type of plan shifts the risk to the employee as to whether the pension plan will grow to provide for a reasonable pension payment upon retirement. d. There is no problem estimating the company's pension expense. e. This type of plan presents substantial problems in estimating the pension liability.
Within the relevant range, which of the following costs remains the same irrespective of the changes in production?
A) total mixed costs B) total operating costs C) total variable costs D) total fixed costs
The amount of cash received on issuance of a 9 percent, $10,000 bond dated February 1 and issued June 1 at 102 1/2 is
A) $10,300. B) $11,100. C) $10,200. D) $10,550.
Managers are vitally interested in the attitudes that employees have toward all of the following EXCEPT ________.
A. the organization B. jobs C. spirituality D. careers