Answer the following statement(s) true (T) or false (F)
1. Although very common a few hundred years ago, the barter system no longer exists in our modern world.
2. Money is anything that is commonly accepted as a means of payment for goods and services.
3. Money must be in the form of minted coins or paper.
4. Money has two basic functions: a medium of exchange and a measure of relative value.
5. Money has one function: a medium of exchange.
1. FALSE
2. TRUE
3. FALSE
4. FALSE
5. FALSE
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As part of the closing process, the drawing account is credited and the income summary account is debited
Indicate whether the statement is true or false
A cash prelist is
a. a document that records sales returns and allowances b. a document returned by customers with their payments c. the source of information used to prepare monthly statements d. none of the above
The two best sources of future sales are:
A. customers and customers' referrals. B. customers and centers of influence. C. orphaned and current customers. D. sales lead clubs and referrals. E. colleagues and centers of influence.
Why is “ethics assist line” a better name than “ethics hotline?”
What will be an ideal response?