Liberty Industries purchased merchandise worth $1,800 on credit, terms n/30. What is the required journal entry to record the transaction under the perpetual inventory system?
A) Accounts Receivable 1,800Purchases 1,800
B) Purchases 1,800Merchandise Inventory 1,800
C) Merchandise Inventory 1,800Accounts Payable 1,800
D) Accounts Payable 1,800Merchandise Inventory 1,800
C
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In general, tariffs tend to have
a. only protective effects. b. only consumption effects. c. only revenue effects. d. revenue effects, protective effects, and consumption effects.
Lower costs in the form of cheaper labor or raw materials and the opportunity to gain better first-hand knowledge of the wants and needs of consumers in the local market are factors that would likely lead a company to ________ in a foreign market
A) use direct exporting B) begin licensing C) begin franchising D) use indirect exporting E) make a direct investment
Which of the following budgets allow for adjustments in activity levels?
A) Static Budget B) Continuous Budget C) Zero-Based Budget D) Flexible Budget
Explain the different components of a pro forma operating income statement
What will be an ideal response?