A(n) ______ informative presentation describes interesting people, places, or events.
a. descriptive
b. exploratory
c. explanatory
d. demonstrative
a. descriptive
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Which of the following is true concerning goodwill?
A. Goodwill is recorded when a company is purchased for more than the fair value of its identifiable net assets. B. Goodwill is recorded when the market value of a company exceeds the fair value of its identifiable net assets. C. Goodwill is recorded as a revenue in the income statement. D. Goodwill can never be recorded.
In an output contract, the seller can operate a factory on a 24-hour-a-day schedule and insist that the buyer take all of the output when that buyer had operated only eight hours a day at the time the contract was made and the buyer had knowledge only of the eight-hour-a-day operating schedule
a. True b. False Indicate whether the statement is true or false
What is a weak relationship? Provide an example
Yu CompanySeveral sales transactions and purchasing activities for Yu Company are described below. Yu Company uses a perpetual inventory system. A)Yu Company purchased merchandise from Mia Company on credit. B)Yu Company returned to Mia Company defective merchandise before payment is made. C)Yu Company pays for the merchandise purchased from Mia Company. D)Yu Company sells merchandise to its customers for cash and on credit. E)Credit customers returned merchandise to Yu Company for a refund. F)Credit customers pay their account balances to Yu Company.Refer to the information provided for Yu Company. For each of the items above, describe its economic effects on the company's accounting equation.
What will be an ideal response?