Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $1050. Fragmental collected the entire $8400 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Fragmental Co. on December 31 would be:
A. A debit to Cash and a credit to Rent Revenue for $8400.
B. A debit to Unearned Rent and a credit to Rent Revenue for $5250.
C. A debit to Rent Revenue and a credit to Cash for $3150.
D. A debit to Unearned Rent and a credit to Rent Revenue for $3150.
E. A debit to Rent Revenue and a credit to Unearned Rent for $3150.
Answer: D
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Explain pressure exerted on an organization due to introduction of substitute products
What will be an ideal response?
Which of the following statements regarding "quality" is false?
A) Quality is often defined as meeting or exceeding customers' expectations. B) Quality requires that a product be reliable and durable and that these features be provided at a competitive price. C) Studies have found that companies that spend less on quality costs have higher operating income than those companies who spend more on quality costs. D) Improving quality often falls under the customer perspective of the balanced scorecard.
A local project is one performed in its native country for a resident firm.
Answer the following statement true (T) or false (F)