The collegial model embodies a team concept.
Answer the following statement true (T) or false (F)
True
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A(n) ________ budget that can be adjusted over time for changing environmental conditions.
A. operating B. incremental C. zero-based D. variable or flexible E. cash
Dew Drops Company purchased equipment for $200,000. The company recorded total depreciation of $140,000. On January 1, 2018, the company exchanges the equipment for new equipment, paying $150,000 cash. The fair market value of the new equipment is $250,000. Prepare the journal entry to record this transaction. Assume the exchange has commercial substance. Omit explanation.
What will be an ideal response?
With regard to health and safety at a workplace, ________ can be defined as the probability of harm.
A. impediments B. obstacles C. barriers D. risks
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would:
a. debit Merchandise Inventory and credit Cost of Goods Sold. b. debit Cost of Goods Sold and credit Purchases. c. debit Cost of Goods Sold and credit Merchandise Inventory. d. make no additional entry until the end of the period.