A ______ is created when two or more firms share ownership of a new company.
a. joint venture
b. strategic alliance
c. direct investment
d. contract
a. joint venture
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A non-parametric test…
a. makes fewer assumptions about the parameters it measures b. does not assume that a meaningful parameter exists c. does not make assumptions about scale of measurement d. none of the above
The date of declaration creates a(n) ________ for the corporation.
A) asset B) liability C) expense D) revenue
In a market system, individuals are limited as to what they can buy and in how they can spend their money
Indicate whether the statement is true or false.
Fagin Company uses special journals to record transactions. Below are the sales journal and cash receipts journal for Fagin in the first part of August.Required:a. Open an accounts receivable subsidiary ledger having a T-account for each customer. Post the invoices to the subsidiary ledger.b. Open an Accounts Receivable controlling T-Account. Post the end-of the month totals that affect the Accounts Receivable account only.c. Prepare a schedule of accounts receivable and prove that its total equals the Accounts Receivable controlling account balance.Sales JournalDateAccount DebitedInvoice No.PRAccounts Receivable Dr.Sales Cr.Cost of Goods Sold Dr.Inventory Cr.8/1Pip Co.1200?6,9003,0008/1Rivers Co.1201?4,2001,9008/3Lloyd Co.1202?7,2004,0008/6Carmen
Co.1203?2,5001,200?Totals??20,80010,100Cash Receipts JournalDateAccount CreditedExplanationPRCash Dr.Sales Discount Dr.Accounts Receivable Cr.Sales Cr.Other Accounts Cr.Cost of Goods Sold Dr.Inventory Cr.8/2SalesCash sales?10,000??10,000?5,5008/3NotesBank loan?12,000???12,000?8/5Pip Co.Invoice 8/1?6,7621386,900???8/9Lloyd Co.Invoice 8/3?7,0561447,200????Totals??35,81828214,10010,00012,0006,500 What will be an ideal response?