Which of the following events would be least likely to be modeled in a REA diagram?
A. customer inquiries
B. posting accounts payable
C. receiving cash
D. sales to a customer
Answer: B
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A stock split merely increases the number of shares of stock; it usually does not change retained earnings or paid-in capital
Indicate whether the statement is true or false
Laguna's Corporation purchased treasury stock for $50,000 . The journal entry to record the transaction is:
a. Cash 50,000 Treasury Stock 50,000 b. Treasury Stock 50,000 Common Stock 50,000 c. Treasury Stock 50,000 Cash 50,000 d. Common Stock 50,000 Treasury Stock 50,000
Sophia seeks to learn both the explicit organizational rules and procedures of her organization and the implicit rules about “how we do things around here.” Sophia seeks to understand the organization’s ______.
A. role set B. society C. norms D. law
It is common practice for an agency to have a case heard by one official and decided
by another. a. True b. False