Zach decides to incorporate his business under the name of "Zamm." In addition to "Zamm," the Model Act requires that Zach include one of the following words: "corporation," "incorporated," "limited," or "company."
Answer the following statement true (T) or false (F)
True
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According to real business cycle (RBC) theory, the main source of the business cycle is
A. changes in the amount of money in the economy. B. waves of optimism and pessimism that cause business investment in capital goods to fluctuate. C. changes in the prices of oil and other resources. D. changes in productivity.
According to the text, all of the following are potential reasons why asking for an appointment by email is a good idea, EXCEPT:
A. Emails offer flexibility to both the salesperson and a prospect. B. Emails are suitable for a prospect who does not like to take decisions in haste. C. Emails require immediate responses D. Through emails you show respect to your prospects' time E. A professionally written email message that clearly and succinctly outlines the background and presents the reasons for the meeting surely captures a prospect's attention
If the firm has received a promise of payment but cannot measure this promise with reasonable reliability, and U.S. GAAP would permit revenue to be recognized, but IFRS would not permit revenue to be recognized
Indicate whether the statement is true or false
At December 31, Yarrow Company reports the following results for its calendar year from the adjusted trial balance.Credit sales$2,300,000Cash sales1,050,000Accounts Receivable295,000Allowance for doubtful accounts (credit balance)750a. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 1.1% of credit sales.b. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be .8% of total sales.c. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 7.0% of year-end accounts receivable.
What will be an ideal response?