A press release should answer six questions. Which of the following is not one of the six?
A. who?
B. how?
C. when?
D. why not?
Answer: D
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From the list below, the task that is most likely to be a part of the reference request step in selecting an ad agency is:
A) studying past media purchases B) conducting a shootout C) studying the firm's client retention rate D) offering the contract
Which of the following statements is true regarding the maturity stage of the product life cycle?
A) During this stage, the market grows rapidly. B) Usually, competition is most intense in this phase. C) Many new competitors enter the market. D) This stage comes after the introduction stage.
When a partnership terminates business, the sale of noncash assets is called _____.
a. liquidation. b. realization. c. recognition. d. disposition.
Russell Co. received a $400 utility bill for the current month's electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Russell Co. make to record the receipt of the bill?
A.
| Cash | 400 | |
| Utilities Expense | 400 |
B.
| Accounts Payable | 400 | |
| Utilities Expense | 400 |
C.
| Utilities Expense | 400 | |
| Accounts Receivable | 400 |
D.
| Utilities Expense | 400 | |
| Accounts Payable | 400 |
E. No journal entry is required.