When a large number of individual accounts with a common characteristic are grouped together, accounting calls this a controlling account

Indicate whether the statement is true or false


True

Business

You might also like to view...

When agents, constituencies and external audiences are present in a negotiation, they can become actively involved to formally or informally pressure others as part of the negotiation process, which may change the power dynamics.

Answer the following statement true (T) or false (F)

Business

When selecting typefaces and type styles for slides, which of the following is recommended?

A. Use plenty of italicized type. B. Use a large amount of script or decorative typefaces. C. When using thinner typefaces, use boldface so that letters don't disappear on screen. D. Use serif typefaces only with smaller text.

Business

On October 1, Year 1, Jason Company paid $2100 to lease office space for one year beginning immediately. What is the amount of rent expense that will be reported on the Year 1 income statement and what is the cash outflow for rent that would be reported on the Year 1 statement of cash flows?

A. $525; $525 B. $2100; $2100 C. $350; $2100 D. $525; $2100

Business

In which of the following situations would a court be likely to find that the witness to the situation had an affirmative duty to act?

a. Where a pedestrian witnessed an auto accident in which one of the drivers was injured. b. Where an airline attendant witnessed one passenger threaten another passenger. c. Where the driver of a car saw a two-year-old toddler wandering in the middle of a busy street. d. All of these are situations where legally there is an affirmative duty to act.

Business