The entry to close Cost of Goods Sold at the end of the year includes a credit to Income Summary
Indicate whether the statement is true or false
F
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What should be avoided when granting claims and requests for adjustment when your company is at fault?
A) Blaming anyone in the organization by name B) Going into the details of how you plan to resolve the situation C) Starting with the assumption that the information the customer provided is correct D) Openly sympathize with the customer's situation E) Take or assign personal responsibility for setting matters straight
General-purpose external financial statements that are divided into subcategories are called classified financial statements
Indicate whether the statement is true or false
If the demand curve for funds increased but the supply curve remained constant, we would expect to see the total amount of funds supplied and demanded increase and interest rates in general also increase.
Answer the following statement true (T) or false (F)
The rule of law imposing vicarious liability upon an innocent principal is known as:
a. contractor liability b. tortious liabilitius c. respondeat superior d. principal duty e. there is no such rule as the employee only is responsible