Brian is a police officer. He just turned 54 years old and is worried that he will be forced to retire next year when he turns 55 . The Age Discrimination in Employment Act will protect him if his employer tries to force him to retire early
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following errors will be detected by a trial balance?
A) posting a credit to Sales instead of to Accounts Payable B) incorrectly computing the balance of the cash account C) failure to journalize a sales transaction at all D) forgetting to post a purchase transaction at all
A subsidiary ledger is
A) a journal used by a company to record its transactions with a similar characteristic. B) a group of accounts, all of which relate to one specific company activity. C) the entire group of accounts for a company. D) a record of all the daily activities.
Interest on a note can be calculated without knowledge of the
A) note's maturity date B) rate of interest C) notes duration D) principal amount
Which of the following is not a reason standard costs are separated in two components?
A) the price and quantity variances need to be identified separately to correct the actual major differences. B) identifying variances determines which manager must find a solution to major discrepancies. C) if a negative variance is over-shadowed by a favorable variance, managers may overlook potential corrections. D) variances brings attention to discrepancies in the budget and requires managers to revise budgets closer to actual.