A universal defense is so basic that the social interest in preserving them outweighs the social interest of giving negotiable instruments the freely transferable qualities of money
Indicate whether the statement is true or false
True
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When a company records the purchase of 1 month of prepaid expense the transaction does not affect the totals of assets or liabilities and stockholders' equity
Indicate whether the statement is true or false
The Youngstown Company recorded the following adjustment in general journal format:Supplies Expense500 Supplies 500 Which of the following choices accurately reflects how this event would affect the company's financial statements? Asset=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash FlowsA.+=++NA+-NA=++OAB.-=NA+-NA-+=--OAC.-=NA+---NA=-+OAD.-=NA+-NA-+=-NA
A. Option A B. Option B C. Option C D. Option D
If Southwest Airlines closely evaluates the products and processes of United Airlines with the intent of improving quality among their own products and practices, Southwest is using
A. SWOT analysis. B. long-term strategy. C. partnering strategy. D. benchmarking. E. goal establishment.
Buy-Rite Pharmacy has purchased a small auto for delivering prescriptions. The auto was purchased for $24,000 and will have a 6-year useful life and a $6,000 salvage value. Delivering prescriptions (which the pharmacy has never done before) should increase gross revenues by at least $28,000 per year. The cost of these prescriptions to the pharmacy will be about $22,000 per year. The pharmacy depreciates all assets using the straight-line method. The payback period for the auto is closest to (Ignore income taxes.):
A. 2 years B. 1.2 years C. 1.8 years D. 4 years