When a lockbox is used, the financial institution records the deposit and then forwards customer transaction data to the client to update cash and accounts receivable records
a. True
b. False
Indicate whether the statement is true or false
True
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Global Inc had net income for 2015 of $24,000 . It declared and paid a $13,000 cash dividend in 2015 . If the company's retained earnings for the end of the year was $39,600, what was the company's retained earnings balance at the beginning of 2015?
a. $28,600 b. $50,600 c. $76,600 d. $2,600
When a company disposes of an asset by abandonment the resulting gain or loss equals the fair market value of the asset at the time of abandonment. ?
Indicate whether the statement is true or false
Which of the following is a false statement regarding systems furniture?
A. It requires more floor space than traditional furniture. B. It is available in a wide range of finishes. C. It is available in a wide range of sizes and shapes. D. It is more adaptable than traditional furniture.
An employee can claim workers compensation even if the injury occurred during a lunch break, off work premises as long as it occurred during the employees typical work hours
Indicate whether the statement is true or false