Indicate with a Yes or No whether or not each of the following accounts would, under normal circumstances, require an adjusting entry. 1 . Cash 2 . Prepaid Expenses 3 . Depreciation Expense 4 . Accounts Payable 5 . Accumulated Depreciation 6 . Equipment
1 . No
2 . Yes
3 . Yes
4 . Yes
5 . Yes
6 . No
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A buyer whose seller breaks the contract may recover punitive damages based on three times the difference between the contract price and the current market price of the goods.
Answer the following statement true (T) or false (F)
Where incentives refers to forms of pay to encourage future performance, what term is used for forms of pay designed to recognise past performance and achievement:
a. commission b. perks c. dividends d. bonuses
Suppose that currently, 1 British pound equals 1.98 U.S. dollars and 1 U.S. dollar equals 1.25 Swiss francs. How many Swiss francs are needed to purchase 1 pound?
A. 2.1285 B. 2.3760 C. 1.9058 D. 2.5988 E. 2.4750
Matt works at a take-out restaurant. His job is to take orders over the phone and then pass it on to the kitchen staff. As a result of being short-staffed, the restaurant management decided to automate Matt's job and assign him kitchen duties instead. In this case, information systems are ________.
A. augmenting a human performing an activity B. changing the process requirements C. controlling data quality process flow D. performing an activity E. cutting down expenses