An accountant records transactions in business records called
A) source documents.
B) journals.
C) financial statements.
D) balance sheets.
B
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With respect to competitive advantage, share followers with above-average profits ________
A) have lower relative product quality B) have lower levels of capacity utilization C) have lower levels of price, and unit margin D) invest less aggressively in marketing as a percentage of sales, in comparison with competitors E) invest more in research and development (R&D) as a percentage of sales
_____ forces affect the way politics shape laws and the way laws shape the opportunities for and threats to an organization. For example, some cities in the United States (including New York and San Francisco) have set the minimum wage far above the federally mandated minimum wage.
A. Political-legal B. Demographic C. Financial D. Sociocultural E. Technological
The practice of attending to the "image" of a firm is sometimes referred to as:
A. reputation management. B. crisis management. C. branding. D. gentrification.
A company that uses the perpetual inventory system sold goods to a customer for cash for $3,500. The cost of the goods sold was $600. Which of the following journal entries correctly records this transaction?
A) Cost of Goods Sold 3,500 Sales Revenue 3,500 B) Cash 3,500 Sales Revenue 3,500 Cost of Goods Sold 600 Merchandise Inventory 600 C) Accounts Receivable 3,500 Cash 3,500 Cost of Goods Sold 600 Merchandise Inventory 600 D) Merchandise Inventory 3,500 Sales Revenue 3,500