All trading in the futures market is done on a margin basis
Indicate whether the statement is true or false.
Answer: TRUE
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A coupon on a 2-liter bottle of Pepsi, offering $1.00 off on a bag of potato chips, is which type of coupon?
A) cross-ruffing B) scanner-delivered C) response-offer D) instant-redemption
Out of the four roles of trust in negotiation-individual antecedents, situational antecedents, trust and negotiation processes, and outcomes of trust-which answer options falls under the role of individual antecedents of trust in negotiation?
A. Face-to-face negotiation encourages greater trust than online negotiation. B. Trust cues cooperative behavior. C. Trust enhances the sharing of information. D. Emotions contribute to trust or distrust.
Which of the following suggested bases of recognizing revenue is not permitted by authoritative literature?
a. During production for long-term construction contracts if reliable estimates of the extent of progress and of the cost to complete can be made and if reasonable assurance of collectibility exists. b. At the completion of production if immediate marketability at a quoted price exists for a product whose units are interchangeable. c. On an accretion basis where product marketability at known prices exists and it is desirable to recognize changes in assets, such as growing timber. d. On a cash basis if no reasonable basis exist for estimating collectibility.
Based on the following trial balance for Barry's Automotive Shop, prepare an income statement, statement of retained earnings, and a balance sheet. Barry, the company's sole stockholder, made no additional investments in the company during the year.Barry's Automotive ShopTrial BalanceDecember 31Cash $ 12,500?Accounts receivable 1,500?Supplies 500?Repair shop equipment 27,000?Service truck 33,000?Accounts payable ?$ 2,600Common stock ?30,000Retained earnings ?8,525Dividends 36,000?Service revenue ?125,000Supplies expense 3,425?Rent expense 18,000?Utilities expense 5,000?Gas expense 7,200?Wages expense 22,000?Totals $166,125$166,125
What will be an ideal response?