A debit memorandum appeared on Cinco Inc's May bank statement. How will Cinco treat this amount on its May bank reconciliation?
a. Add it to the bank balance
b. Add it the book balance
c. Deduct from the bank balance
d. Deduct from the book balance
d
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Which of the following accounts is not considered a selling expense?
a. Sales Salaries; b. Insurance Expense; c. Advertising Expense; d. Delivery Expense; e. Bank Credit Card Expense
Typically, depreciation calculations are rounded to the nearest whole month
Indicate whether the statement is true or false
Using the average of recent historical demand to generate a forecast is referred to as what technique?
a. Simple moving average b. Weighted moving average c. Exponential smoothing d. Linear trend forecast
Which of the following categories of owners enjoy limited liability?
A) all partners in a limited partnership B) in a partnership, only the general partners C) common shareholders of a corporation D) only B and C above