What type of account is Accumulated Depreciation and what is the normal balance of this account?
What will be an ideal response?
The Accumulated Depreciation account is a contra asset account and has a credit balance.
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In most companies, ________ is a well-defined and systematic approach to innovation
A) research and development B) diffusion C) adoption D) positioning E) augmentation
The amount of income reported for tax purposes
a. is normally greater than the net income reported to stockholders. b. must be computed according to GAAP. c. is used to compute earnings per share. d. may differ from the amount of income determined for financial reporting purposes.
1. $7,000 of merchandise inventory was ordered on September 2, 2009 2. $3,000 of this merchandise was received on September 5, 2009 3. On September 6, 2009, an invoice dated September 4, 2009, with terms of 3/10, net 30 for $3,250 which included a $250 prepaid freight cost, was received. 4. On September 10, 2009, $800 of the merchandise was returned to the seller. Based on the above information,
what would be recorded as the cash payment if the invoice is paid within the discount period? A) $2,200 B) $2,134 C) $2,450 D) $2,384
Once the project is complete, tenure is granted to project managers.
Answer the following statement true (T) or false (F)