Every transaction affects at least two accounts. The purchase of land in exchange for cash is recorded with which of the following entries?
a. debit to Land and credit to Accounts Payable
b. debit to Cash and credit to Land
c. debit to Land and credit to Cash
d. debit to Stockholders' Equity and credit to Cash
c
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Freight-in is considered a cost of merchandise purchased
Indicate whether the statement is true or false
Although mechanical means are occasionally appropriate to create emphasis, more often a writer achieves emphasis stylistically
Indicate whether the statement is true or false
With the ______, an initial feasible solution to the transportation problem is obtained by allocating shipments beginning with the route that has the lowest cost of transportation.
A. matrix least cost method B. matrix maximum profit method C. northwest corner rule D. stepping stone method
If it took 1000 hours to produce the first unit of a product, and the learning curve is 70%, how long will it take to produce units 26 through 50?
A) 12,307 hours B) 8,404 hours C) 134 hours D) 3,903 hours E) none of the above