Payment is made for an electric bill which was received and recorded earlier. For this transaction, identify the effect on the accounting equation
a. Assets increase and liabilities increase.
b. Assets increase and stockholders' equity increases.
c. Liabilities increase and stockholders' equity decreases.
d. Liabilities decrease and assets decrease.
d
You might also like to view...
For each of the following tests, identify the assertion to which the test applies.1) Trace a sample of payroll checks to the master employee list.2) Recalculate a sample of payroll checks.3) Review supporting documentation to determine that the entity is legally obligated to pay the liability.4) Estimate sales commissions by applying commission formulas to recorded sales totals.5) Compare amounts accrued to supporting documentation, such as payroll tax returns.6) Compare payroll costs as a percentage of sales to industry data.
What will be an ideal response?
System documentation is designed for all of the following groups except
a. systems designers and programmers b. end users c. accountants d. all of the above require systems documentation
___________ is a discrepancy between the emotions a person displays and the emotions he or she actually feels.
a. Emotional regulation b. Negative effect c. House rules d. Emotional dissonance
With regard to capacity planning, the difference between an integrated MRP-JIT system and an only-MRP system is that ______.
a. the MRP system uses finite capacity planning; the integrated MRP-JIT system uses infinite capacity planning b. the MRP system uses infinite capacity planning; the integrated MRP-JIT system uses finite capacity planning c. there is no difference; both systems use finite capacity planning d. there is no difference; both systems use infinite capacity planning