My leader helped me advance my career by giving me additional opportunities to learn and expand my skills. He is using which characteristic of a servant leader?
A. stewardship
B. building community
C. commitment to the growth of people
D. awareness
C. commitment to the growth of people
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Another word for expense is debt
Indicate whether the statement is true or false
The selection of an inventory costing method has no significant impact on the financial statements
Indicate whether the statement is true or false
A firm using the lower-of-cost-or-market method discovers that their inventory is worth $200.00 less than it originally cost. What journal entry should be made and how would it be stated on the income statement?
a. Merchandise Inventory is debited $200.00 and Loss on Write-Down of Inventory is credited $200.00 and the write-down is reported as revenue on the income statement. b. Loss on Write-Down of Inventory is debited $200.00 and Merchandise Inventory is credited $200.00 and the write-down is reported as an expense on the income statement. c. Sales is debited $200.00 and Cost of Goods Sold is credited $200.00 and the expense is reported on the income statement. d. Accounts Payable is debited $200.00 and Accounts Receivable is credited $200.00 and there is no effect on the income statement. e. Cost of Goods Sold is debited $200.00 and Cash is credited $200.00 with no effect on the income statement.
Which is correct?
a. The company are planning to announce a merger. b. The company is planning to announce a merger.