When a company receives an electric bill but does not pay it right away, what is the required journal entry to be recorded?
a. Utilities Expense – Debit; Accounts Receivable – Credit
b. No entry is required until the bill is paid.
c. Utilities Expense – Debit; Accounts Payable – Credit
d. Accounts Payable – Debit; Utilities Expense – Credit
C
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A multinational corporation typically receives more than ______ percent of its total sales revenues from operations outside the parent’s home country.
A. 5 B. 15 C. 25 D. 45 E. 75
Bridgeport Enterprises reported the following figures from its adjusted trial balance for its first year of business, which ended on June 30, 2019.
Requirements:
a. Prepare a multi-step income statement.
b. Prepare the statement of retained earnings.
c. Prepare a classified balance sheet.
d. Compute the gross profit percentage.
What major benefits does the use of palm oil offer to manufacturers and growers?
a. more soluble; more edible b. easy to replenish; less processing c. easy to harvest; more soluble d. higher yield; less processing
For a new service venture, what is a good principle to adhere to when it comes to a new service strategy?
a. Figure out how to productize services to gain efficiencies in delivery b. Make sure you do not modularize your services c. Avoid offering consumer choice d. None of the above are good principles