Each account in the chart of accounts has a separate record in the general ledger master file
Indicate whether the statement is true or false
T
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During its first year of operations, a company granted employees vacation privileges and pension rights estimated ata cost of $21,500 and $15,000 . The vacations are expected to be taken in the next year and the pension rights areexpected to be paid in the future 5–30 years. What is the total cost of vacation pay and pension rights to berecognized in the first year?
a. $15,000 b. $36,500 c. $6,500 d. $21,500
Income is a more important segmentation variable than population in the case of low-priced products
Indicate whether the statement is true or false
Explain how assets and liabilities should be classified on the balance sheet. What are the problems with this classification method?
What will be an ideal response?
Your secretary, the mailroom attendant, and your co-workers are all referred to as
your__________. a. external customers b. internal customers c. secondary customers d. co-dependents