E-books have changed the _________ for books.
a. supply conditions
b. demand conditions
c. terms of trade
d. way people shop
d. way people shop
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Which of the following would not affect Factory Overhead when adjusting entries are made?
a. Utilities Expense; b. Bad Debt Expense; c. Factory Supplies Expense; d. Insurance Expense; e. Depreciation Expense
Answer the following statements true (T) or false (F)
1. A stock split can involve issuing more shares of stock than authorized in the corporate charter. 2. A 3-for-1 stock split of a $3 par value share will result in three shares of $1 par value being issued for each share of $3 par value stock. 3. A memorandum entry is an entry in the journal that notes a significant event but has no debit or credit amount. 4. A small stock dividend, a large stock dividend and a stock split have no effect on total assets. 5. Small and large stock dividends have no effect on the Common Stock account.
Explain the difference between elastic demand and inelastic demand
What will be an ideal response?
Which of the following would not be reported on the income statement?
A. Cost of land purchased with cash for future use. B. Revenue for services provided to customers who promise to pay in the next period. C. Rent expense in the amount of rent paid during the period for use of a storage facility in the current period. D. Utilities expense in the amount of a bill received for utilities used during the current period but unpaid as of the end of the period.