Merchandising businesses do not need as good a system of internal control as service companies
Indicate whether the statement is true or false
F
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On June 30, a company paid a premium of $2,400 for one year of insurance coverage, which started on July 1. The company has a calendar year-end. Which of the following statements about this situation is correct?
A. Prepaid Insurance of $2,400 will be reported on the balance sheet at December 31. B. Insurance Expense of $1,200 will be reported on the income statement for the year ending December 31. C. Prepaid Insurance of $200 will be reported on the balance sheet at December 31. D. On June 30, Cash would be debited for $2,400.
A family-oriented Italian restaurant's strategy consists of appealing to budget-conscious individuals and families with high-quality food, quick service, clean surroundings, and a wholesome environment. This constitutes its _____
a. goods/service category b. target market c. competitive advantage d. organizational mission
An activity has an optimistic time estimate of 25 days, a most likely estimate of 29 days, and a pessimistic estimate of 34 days. What is the expected duration of the activity?
A) Less than 31 days but greater than or equal to 29 days B) Less than 29 days but greater than or equal to 27 days C) Less than 27 days but greater than or equal to 25 days D) Less than 25 days
A tenancy for years terminates at the expiration of the specified term, regardless of whether one party gives the other any notice of termination
Indicate whether the statement is true or false