Journal entries show the effects of transactions on the elements of the accounting equation, as well as the account balances.
Answer the following statement true (T) or false (F)
False
Journal entries are entered into the journal using a debit/credit format. By themselves, journal entries show the effect of transactions, but they do not provide account balances. The entries are "posted" to the ledger accounts, which then show the balance of each of the accounts.
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Which of the following controls would best prevent the lapping of accounts receivable?
a. Segregate duties so that the clerk responsible for recording in the accounts receivable subsidiary ledger has no access to the general ledger. b. Request that customers review their monthly statements and report any unrecorded cash payments. c. Require customers to send payments directly to the company's bank. d. Request that customers make the check payable to the company.
A(n) ________ coalition is one that may have started as temporary but then determined that the issue or problem does not remain resolved and the members need to remobilize themselves every time the presenting issue requires collective attention in the future.
Fill in the blank(s) with the appropriate word(s).
France, Italy, and Germany boast sophisticated marketing systems and are three good examples of ________
A) preindustrial countries B) least developed countries (LDCs) C) developing countries D) developed countries E) BRIC countries
Forward integration occurs when the firm acquires one of its suppliers.
Answer the following statement true (T) or false (F)