To record adjusting journal entries in QuickBooks, select:
a. Company Center, Journal Entry icon
b. Accountant menu, Make General Journal Entries
c. Banking section of the Home page, Journal Entry icon
d. Company section of the Home page, Journal Entry icon
b. Accountant menu, Make General Journal Entries
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The analysis of a progressive tax is very similar to that of a proportional tax.
A. True B. False C. Uncertain
Regarding the relationship between marginal profit and average profit, which of the following statements is NOT true?
A. If the average profit is rising, the marginal profit figure must be rising. B. If marginal profit is lower than average profit, then average profit must decrease when profit increases. C. If marginal profit is below average profit, the average profit decreases. D. All of these statements are true.
Doug wants to start up his own business, and needs $25,000 to get it off the ground. He can either withdraw it from his savings account, where he currently earns 3 percent, or he can take out a loan for $25,000 and pay 5 percent interest. Doug should compare:
A. the implicit cost of $750 to the explicit cost of $1,250 and choose to use his savings. B. the implicit cost of $750 to the explicit cost of $1,250 and choose to borrow the money. C. the explicit cost of $750 to the implicit cost of $1,250 and choose to use his savings. D. the explicit cost of $25,750 to the explicit cost of $26,250 and choose to borrow the money.
Which of these activities will most likely impose an external cost?
a. Betty plants flowers in her garden. b. Bonnie gets a flu vaccine. c. Bridget drives her car after having too much alcohol to drink. d. Becky buys a new flat screen television.