For estray statutes to apply, property must be mislaid, not merely lost.?
Indicate whether the statement is true or false
False
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Revenues are:
A. The excess of expenses over assets. B. The costs of assets or services used. C. The same as net income. D. Resources owned or controlled by a company E. The increase in equity from a company's sales of products and services.
In chapter 4, Dianne Taylor won a 2013 Honda Accord on "The Price is Right" TV show. She has to pay taxes on her prize. The taxes are based on the car's ________ value
A) fair market B) residual C) manufacturer's suggested retail price D) invoice
If a firm engages in price discrimination, it may defend itself by showing that there is a cost justification for charging different customers different prices
a. True b. False Indicate whether the statement is true or false
On October 1, Robertson Company sold inventory in the amount of $5,800 to Alberta, Inc. with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Robertson uses a periodic inventory system. The journal entry (or entries) prepared by Robertson on October 1 is(are):
A. Debit Sales Revenue and credit Accounts Receivable for $5,800. B. Debit Accounts Receivable and credit Sales Revenue for $5,800. C. Debit Sales Revenue and credit Accounts Receivable for $5,800; debit Cost of Goods Sold and credit Inventory for $4,000. D. Debit Accounts Receivable and credit Sales Revenue for $5,800; Debit Cost of Goods Sold and credit Inventory for $4,000.