An increase to a liability account is recorded with a debit entry.
Answer the following statement true (T) or false (F)
False
This is false. An increase to a liability account is recorded as a credit (rather than a debit).
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Adam, a human resource professional, is preparing for Marianne, a U.S. production manager, to take an assignment at a new facility in Vietnam. Adam wants to measure Marianne's success in establishing high productivity, so he uses the excellent productivity numbers Marianne achieved in her current assignment as a basis for setting performance goals for the Vietnamese position. How could this method of measuring performance be improved?
A. by lowering the measure to account for Marianne's limited knowledge of Vietnamese B. by adjusting the measure to account for the facility being in a different time zone C. by raising the measure to motivate Marianne to improve on her past accomplishments D. by using communication technology to send frequent updates of the performance measures E. by adjusting the measure for local factors that could affect productivity
Disclaimers of opinion can only be issued by auditors based on which of the following?
a. Violations of GAAP. b. Substantial scope limitations. c. Going concern. d. Lack of independence. e. Either B or D.
The Seabury Corporation has a current ratio of 3.5 and an acid-test ratio of 2.8. The corporation's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $49,000. Seabury Corporation's current liabilities must be: (Round your intermediate calculations to 1 decimal place.)
A. $70,000 B. $49,000 C. $125,000 D. $100,000
We buy life insurance in order to transfer
A) adverse risk. B) negative risk. C) pure risk. D) speculative risk.