In the case of a deferred expense, the adjusting entry required at the end of a period will consist of a credit to the Prepaid Expense account. Assume the deferred expense was initially recorded as an asset
Indicate whether the statement is true or false
TRUE
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The following totals for the month of June were taken from the payroll register of Arcon Company: Salaries expense $14,000 Social security and Medicare taxes withheld 1,050 Income taxes withheld 2,600 Retirement savings 1,000 The entry to record the payment of net pay would include a
a. debit to salaries payable for $14,000 b. debit to salaries payable for $9,350 c. credit to salaries expense for $9,350 d. credit to salaries payable for $9,350
Identify a characteristic of counseling.
A. The view that other employees suffer consequences such as working harder to make up for the problem employee's lapses is a myth. B. Employees who receive it rarely meet performance standards. C. The view that changes in an employee's attitudes do not carry over to the work of other employees is a myth. D. It can indirectly motivate employees and improve job satisfaction.
If the dividend growth rate increases for a firm, its P/E will ---------, other things the same.
a. increase b. stay the same c. decrease d. increase or decrease but not stay the same
The most important feature of a life insurance company is its
a. service. b. cost comparison index number. c. ability to pay its obligations. d. insurance agents.