Assume the current ratio is 2 to 1 . Payment on accrued salaries payable would cause the current ratio to
a. increase
b. decrease
c. be unchanged since the effects offset one another
d. be unchanged since it has no impact on any current accounts
a
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A "blind" copy of the purchase order should be sent to receiving so that:
a. receiving can anticipate the receipt of the goods from the vendor b. receiving clerks will know the value of what is on order c. partial shipments can be monitored d. receiving clerks will be forced to actually count the goods that are received
GAAP requires a disclosure that reconciles a company's effective income tax rate and the U.S. statutory income tax rate.
Answer the following statement true (T) or false (F)
The third step in the analyzing and recording process is to record each transaction chronologically in a________.
Fill in the blank(s) with the appropriate word(s).
________ are products purchased and used by end consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products
A) Services B) Consumer products C) Line extensions D) Industrial products E) Straight extensions