Sales discounts has a normal debit balance because it decreases Sales, which has a normal credit balance.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Determining the cash flows from operating activities generally requires analyzing each item on the income statement as well as the current asset (except cash) and current liability accounts
a. True b. False Indicate whether the statement is true or false
Intask Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of 6,000 units that were 75% complete with respect to conversion costs. Ending work in process inventory consisted of 5,000 units that were 60% complete with respect to conversion costs. If 12,000 units were transferred to the next processing department during the period, the equivalent units of production for conversion cost would be:
A. 13,000 units B. 10,500 units C. 13,500 units D. 12,500 units
Which of the following statements is true of misstatements or omissions of material facts in the information furnished by accountants for registration statements?
A. An accountant is not liable to a purchaser of securities issued pursuant to a defective registration statement. B. A purchaser can recover even if the accountant can demonstrate that the purchaser was aware of the misstatements or omissions in the registration statement before buying the securities. C. An accountant's duty is to have a reasonable belief in the accuracy of the figures at the time the registration statement becomes effective. D. A purchaser cannot recover if he has not read the registration statement containing the material misstatements or omissions.
Age, gender, place of residence, and income are all examples of ________
A) segmentation variables B) positioning strategies C) market fragment strategies D) psychographics E) targeting strategies