Under which circumstance would one less closing entry than usual be made?
A) When a net loss has been suffered
B) When dividends are equal to net income for the period
C) When net income is zero
D) When the Retained Earnings account is zero prior to posting of closing entries
C
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Which of the following would not be reported on the financial statements?
A) sales discount taken B) trade receivables C) trade discounts D) sales discounts not taken
The formula for depreciable cost is
A) initial cost + residual value B) initial cost - residual value C) initial cost - accumulated depreciation D) depreciable cost = initial cost
Think about the various marketing strategies as you read the following choices to determine which one describes a market penetration strategy.
A. selling existing products to new markets B. selling more of current products to existing markets C. selling new products to existing markets D. selling new products to new markets E. selling more of current products to new markets
As a result of a performance evaluation meeting the employee's self-esteem should
a. Be maintained b. Be lowered c. Be defined d. A & C only