In the long run, business demand becomes totally unrelated to consumer demand.
Answer the following statement true (T) or false (F)
False
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A truck is purchased on credit. For this transaction, identify the effect on the accounting equation
a. Assets increase and liabilities increase. b. Assets increase and owners' equity increases. c. Liabilities increase and owners' equity decreases. d. Liabilities decrease and assets decrease.
One of the advantages of the person-administered survey is that the interviewer is able to respond to questions asked by respondents
Indicate whether the statement is true or false
Closing entries are required:
A. So that Revenue, expense, and dividends accounts must begin each period with zero balances. B. If management has decided to cease operating the business. C. Only if the company adheres to the accrual method of accounting. D. If a company's bookkeeper does not choose to prepare reversing entries. E. In order to satisfy the Internal Revenue Service guidelines.
$200,000 of unencumbered funds to be used for government operations in the future from the General Fund is an example of an unassigned fund balance.
Answer the following statement true (T) or false (F)