BizCom's customer, Redding, paid off an $8,300 balance on its account receivable. BizCom should record the transaction as a debit to Accounts Receivable?Redding and a credit to Cash.
Answer the following statement true (T) or false (F)
False
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All of the following statements regarding the ratio of liabilities to owner's equity are true except:
A) A ratio of 1 indicates that liabilities equal owner's equity. B) Corporations can use this ratio but substitute total stockholders' equity for total owner's equity. C) The higher this ratio is, the better able a business is to withstand poor business conditions and pay creditors. D) The lower this ratio is, the better able a business is to withstand poor business conditions and pay creditors.
The number of companies using social networking sites to promote their product and services ____ increasing
A) is B) are C) were
The use of estimates and revision of estimates are uncommon in financial reporting.
Answer the following statement true (T) or false (F)
To determine a comfortable car payment, the two big pieces of information you need are your financing cost and what?
A) MSRP B) Partners Finances C) Income Bracket D) Insurance E) Tax Bracket