Which of the following journal entries would probably be made if the modified cash basis of accounting for warranties is in use for a sale made in 2016?
A) ?2016Warranty Expense XXEstimated Liability under Warranties XX
B) ?2017Estimated Liability under Warranties XXCash XX
C) ?2016Cash XXSales XXUnearned Warranty Revenue XX
D) ?2017Warranty Expense XXCash XX
D
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If the M1 multiplier is 3 and the Fed engages in open-market sales in the amount of $3 billion, then M1 will
A. increase by $1 billion. B. decline by $1 billion. C. decline by $9 billion. D. increase by $9 billion.
A rigid, departmentalized structure organized along functional groups is not likely to be successful for new-product introductions
Indicate whether the statement is true or false
Experiments call for selecting matched groups of subjects, subjecting them to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant
Indicate whether the statement is true or false
The purpose of reversing entries is to:
A. Ensure that closing entries have been properly posted to the ledger accounts. B. Simplify a company's recording of certain journal entries in the future. C. Correct errors made in previous journal entries. D. Make certain that only permanent accounts are carried forward into the next accounting period. E. Complete a required step in the accounting cycle.