The ________ account is a temporary account used only during the closing process
a. Drawing
b. expense
c. Income Summary
d. revenue
c
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Under the cash basis of accounting, revenues are recognized when cash is received, regardless of when it is earned
a. True b. False Indicate whether the statement is true or false
______ is placing your own cultural beliefs in a superior position, leading to the negative judgment of other cultures.
a. Ethnocentrism b. Hate speech c. Bullying d. Prejudice
Answer the following statements true (T) or false (F)
1. Admission of a new partner, by contributing directly to the partnership, increases both assets and liabilities by the same amount. 2. When a new partner is admitted at a higher-than-book-value contribution, the existing partners will receive a bonus amount. 3. Irrespective of the original profit-and-loss-sharing ratio, the bonus received by existing partners—by admitting a new partner—will be allocated equally. 4. New partners will always be admitted to a partnership at a contribution equal to or greater than the book value of their interest. 5. When a partner sells his interest to another party, the journal entry simply credits the withdrawing partner's capital account and debits the new partner's capital.
Which of the following sentences contains a comma splice?
A) Miguel will write the document, but Alicia will proofread it. B) Miguel will write the document, Alicia will proofread it. C) Miguel will write the document; however, Alicia will proofread it. D) Miguel will write the document. Alicia will proofread it.