The account to which an expense account is closed is called
a. Drawing;
b. Closing Account; c. Income Summary; d. Net Income; e. Cash Expense.
C
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Lightner Company decides that an available-for-sale security is impaired as of December 31, 2013 and has an unrealized loss of $5,000 . The journal entry to record an impairment loss on securities available-for-sale would be:
a. Unrealized Holding Loss on Securities Available-for-Sale................5,000 Impairment Loss..........................................5,000 b. Impairment Loss................................... 5,000 Unrealized Holding Loss on Securities Available-for-Sale.................... 5,000 c. Realized Holding Loss on Securities Available-for-Sale................5,000 Impairment Loss....................................... 5,000 d. Impairment Loss .................................. 5,000 Realized Holding Loss on Securities Available-for-Sale.....................5,000 e. Impairment Loss.................................. 5,000 Retained Earnings...................................... 5,000
As with any business, a nonprofit organization must take in as much money as it spends or it won't survive.
Answer the following statement true (T) or false (F)
Communication that is intended to inform, persuade, or remind an organization's target markets about the organization and its products is called promotion.
Answer the following statement true (T) or false (F)
Information collected for the first time for the purpose of solving a particular problem under investigation is called _____ data.
A. primary B. secondary C. dichotomous D. observation E. convenience