. Refer to Table 2.1. If trade opens up between the United States and the United Kingdom, American firms should specialize in producing
a. cloth.
b. wine.
c. both cloth and wine.
d. neither cloth nor wine.
a. cloth.
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Correlate health and safety issues at workplace with ideals.
What will be an ideal response?
Juniper Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 16, it paid the full amount due. The correct journal entry to record the payment on August 16 is:
A. Debit Accounts Payable $8,167.50; credit Cash $8,167.50. B. Debit Accounts Payable $9,750; credit Merchandise Inventory $97.50; credit Cash $9,652.50. C. Debit Cash $8,250; credit Accounts Payable $8,250. D. Debit Accounts Payable $8,250; credit Merchandise Inventory $82.50; credit Cash $8,167.50. E. Debit Merchandise Inventory $8,250; credit Cash $8,250.
The method of reporting the uncollectible accounts that is not concerned with matching the revenues and expenses of the period is called the:
a. indirect write-off method. b. accounts receivable method. c. credit sales method. d. aging of receivables method. e. direct write-off method.
Snowball sampling is probability sampling in that it is like throwing a snowball and choosing the person it hits.
Answer the following statement true (T) or false (F)