Modern ERP systems are best described as?
a. MRP II systems
b. MRP systems
c. A combination of MRP II and MRP systems
d. Neither MRP II nor MRP systems
c. A combination of MRP II and MRP systems
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Utah Co sold merchandise to Big Sky Corp on December 1, 2014, for $9,000, and accepted a promissory note for payment in the same amount. The note has a term of 90 days and a stated interest rate of 8%. Utah's accounting period ends on December 31. What is the actual maturity date of the note?
a. December 31, 2014 b. January 29, 2015 c. February 28, 2015 d. March 1, 2015
Partners can at any time unanimously agree to dissolve a partnership.
Answer the following statement true (T) or false (F)
Which three types of transactions affect retained earnings, and how do they affect it?
Which of the following best describes the term "retained earnings" of a company?
A) The amount of total profits earned by a company since it began operations. B) The amount of claim that the owners have on the assets of the company. C) The future economic resources of a company. D) The accumulated net income of a company that has not been distributed to owners in the form of dividends.