Which of the following is true about a journal?
a. Each journal entry records only the debit side of a transaction.
b. A journal cannot be done on a computerized accounting system because of possible security issues.
c. A general journal records particular types of transactions such as credit sales.
d. A specialized journal records transactions in the order they occur..
e. A journal may be a book, such as in a manual accounting system.
e. A journal may be a book, such as in a manual accounting system.
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Aaron takes $100 out of his checking account and puts it in his savings account while Biff withdraws $200 from his money-market mutual fund in the form of cash. The total effect is that M1 ____ and M2 ____.
A. is unchanged; falls by $100 B. is unchanged; is unchanged C. rises by $100; falls by $100 D. rises by $100; is unchanged
When marketers use evocative images or music, what step in the AIDA plan is being developed?
A) Attention B) Interest C) Action D) Desire E) Interactivity
To arrive at cash flows from operations, it is necessary to convert the income statement from an accrual basis to the cash basis of accounting
Indicate whether the statement is true or false
Compare the foreign tax payment claimed as a deduction versus a similar payment claimed as a credit. Create an example to demonstrate the tax effect. Use 28% as the marginal tax rate in your example.
What will be an ideal response?