On December 31, 2016, $2,500 of salaries have been earned but not yet paid to employees. If the business failed to make an adjusting entry on December 31, 2016, indicate the effect on assets, liabilities, equity, and net income
Understated, Overstated, No Effect
Assets
Liabilities
Equity
Net Income
What will be an ideal response
Understated, Overstated, No Effect
Assets No Effect
Liabilities Understated
Equity Overstated
Net Income Overstated
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Identify five general strategies for growth
What will be an ideal response?
John was in charge of an important project. Bill was working on this project for John. At the end of each week, John would meet briefly and individually with each person working on the project to provide feedback about the week that had just passed and the status of the project. One Friday, when John was meeting with Bill, he had told Bill about several positive things that he had done. Then, John offered feedback on two negative areas, or things that John felt could be improved. Bill became defensive and felt that John was callous and uninformed. Bill was ______.
a. reacting too quickly b. signaling his preference for 360-degree feedback c. making attributions about John’s observations and motives d. displaying his preference for a learning orientation toward feedback
Accounting and financial reporting standards for profit-seeking businesses and for nongovernmental not-for-profit organizations are set by the Financial Accounting Standards Board.
Answer the following statement true (T) or false (F)
___________ contacts are agreements to exchange currencies at specified times and rates.
Fill in the blank(s) with the appropriate word(s).