Which of the following is true concerning temporary and permanent accounts?
A. Permanent accounts represent activity over the entire life of the company.
B. Cash is a temporary account.
C. Permanent accounts must be closed at the end of every reporting period.
D. Temporary accounts represent activity over the previous three years.
Answer: A
You might also like to view...
Each unit of a product is sold at $5. The cost per unit is $2. What is the percent margin for the product?
A) 60% B) 40% C) 66.6% D) 16.3% E) 33.3%
Mabel, a citizen of England, and Pierre, a citizen of France, have been doing business for many
years. Pierre now wants to sue Mabel. Which of the following is true? A) Pierre cannot sue Mabel in the International Court of Justice under any circumstances. B) Pierre cannot sue Mabel in the World Court because the dispute is commercial. C) Pierre can sue Mabel in the World Court because the dispute is commercial. D) Pierre can sue Mabel in the International Court of Justice only if Mabel consents.
Frank asks his customers to complete a survey about the service they receive at his company so that he and his staff can make adjustments and improvements. Frank is focusing on the ____ aspect of total quality management.
A. continuous quality improvement B. strengthening supplier partnerships C. customer satisfaction D. employee participation E. sales improvement
When Joan woke up this morning, she felt terrible. She had a headache, sore throat and upset stomach. She called her doctor's office, explained her condition to the receptionist and asked if she could make an appointment to see the doctor as soon as possible that day since she was going on vacation tomorrow. Joan desired expectation to see her doctor the same day she became sick resulted from a(n):
A. Personal need B. Adequate service expectation C. Personal service philosophy D. Derived service expectation E. Perceived service alternative