The sole proprietorship has no legal business structure separate from its owner
Indicate whether the statement is true or false
TRUE
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Answer the following statements true (T) or false (F)
1) The direct write-off method for uncollectible accounts violates the matching principle. 2) The use of the allowance method to record bad debts expense violates the matching principle. 3) A method of accounting for uncollectible receivables in which the company estimates bad debts expense instead of waiting to see from which customers the company will not be able to collect is known as the allowance method. 4) Under both the allowance method and the direct-write off method of accounting for uncollectible accounts, the amount of bad debts expense is estimated at the end of each accounting period. 5) The Allowance for Bad Debts is a contra account to Accounts Receivable.
When consumers are highly involved with an expensive, infrequent, or risky purchase but see little difference among brands, they most likely will exhibit ________
A) habitual buying behavior B) complex buying behavior C) impulse buying behavior D) dissonance-reducing buying behavior E) consumer capitalism
______ describes the degree to which a culture emphasizes the future or the past and present.
a. Short-term-Long-term b. Uncertainty avoidance c. Individualism-Collectivism d. Indulgence-Restraint
Which of the following cultural characteristics should be kept in mind when conducting business in Russia?
A. Giving gifts to those with whom one wants to transact business is regarded as bribery. B. Building personal relationships with partners is important. C. Businesspeople should try and settle business deals quickly. D. Russian expatriates score high on business practices.