Ambiguous, unclear goals can guide behavior effectively
Indicate whether the statement is true or false
F
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Which of the following can't be assessed by analyzing a company's deferred tax note to the financial statements?
A. The effective income tax rate. B. The impact of economic changes on deferred taxes. C. Future income tax expense. D. Earnings quality
Which of the following is not characteristic of mass marketing?
A) Product benefits do not typically include home delivery. B) Advertising is used to generate an immediate inquiry or purchase. C) Repetition of ads is the key to awareness and remembering. D) The customer perceives relatively little risk. E) Purchase action is deferred.
What journal entry format is appropriate if sales returns and allowances occur on factored accounts?
A) Sales Returns and Allowances XXReceivable from Factor XX B) Receivable from Factor XXFactoring Expense XX C) Sales Returns and Allowances XXFactoring Expense XX D) Factoring Expense XX Sales Returns and Allowances XX
Asuncion Company purchased some equipment on January 2, 2011, for $24,000 . The company used straight-line depreciation based on a ten-year estimated life with no residual value. During 2014, management decided that this equipment could be used only three more years and then would be replaced with a technologically superior model. What entry should the company make as of January 1 . 2014, to
reflect this change? a. No entry b. Debit a Prior Period Adjustment account for $4,800 and credit accumulated depreciation for $4,800. c. Debit Retained Earnings for $4,800 and credit accumulated depreciation for $4,800. d. Debit Depreciation Expense for $4,800 and credit Accumulated Depreciation for $4,800.