After the Bill of Rights, there are seventeen more Amendments

Indicate whether the statement is true or false


True

Business

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Which of the following accounts is not affected by cash disbursement transactions?

A. Cash. B. Accounts payable. C. Purchase returns. D. Purchase discounts.

Business

What purpose is served by a factoring arrangement? What does it mean to factor accounts receivable with recourse?

Business

Tonale Company began operations in 2014 . During the first two years of operations, Tonale made undiscovered errors in taking its year-end inventories that overstated 2014 ending inventory by $50,000 and overstated 2015 ending inventory by $40,000 . The combined effect of these errors on reported income is 2014 2015 2016

a. overstated $50,000 overstated $90,000 understated $40,000 b. overstated $50,000 overstated $40,000 not affected c. understated $50,000 understated $90,000 not affected d. overstated $50,000 understated $10,000 understated $40,000

Business

All of the following are examples of trade secrets except:

a. a patent b. a product formula c. a product design d. manufacturing processes e. advertising plans

Business