The general journal is often used to record repetitive transactions
a. True
b. False
Indicate whether the statement is true or false
False
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Amounts in the special columns of the combination journal are posted individually
a. True b. False Indicate whether the statement is true or false
Items should be reported as part of the company's "inventory" at year end, if they are
a. Sold during the period. b. Determined to be part of cost of goods sold. c. Purchased from a creditor, available for sale, and paid for the following year. d. Held in anticipation of an increase in market value.
In general, most business messages are written using what type of tone?
A) Conversational B) Casual C) Abstract D) Formal E) Objective
While using financial statement analysis, which ratio will be most useful in assessing the company's operational efficiency?
a. Current Ratio b. Quick ratio c. Cost of goods sold percentage d. Inventory turnover