The ________ represents the sequence of steps in the accounting process completed during the fiscal period
a. matching principle
b. fiscal year
c. accounting cycle
d. fiscal period
c
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Answer the following statements true (T) or false (F)
1. A common challenge to strategy implementation is resistance by people within the organization. 2. One of the ways to keep a strategic plan on track is to make it very comprehensive, covering as many scenarios for the future as you can. 3. The primary purpose of competitive intelligence is to challenge the thinking of employees to make them better equipped to produce novel ideas for business. 4. SWOT analysis helps management to develop a realistic understanding of the organization in relation to internal and external environments.
Harrison, an employee of Safe Associates, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Harrison has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry to record the disbursement of his net pay?
A) credit to Salaries and Wages Payable B) debit to United Way Payable C) debit to FICA Taxes Payable D) credit to Cash
Procurement can help a company answer the following question: What quantity of raw materials should we purchase to minimize spoilage?
Answer the following statement true (T) or false (F)
Distinguish between a "sale on approval" and a" sale or return."