Which of the following will increase owner's equity?
A) Expenses > revenues
B) the owner draws money for personal use
C) Revenues > expenses
D) Cash is received from customers on account.
C
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Which of the following budgets needs to be prepared prior to preparing an inventory purchases budget?
A. Sales budget B. Selling and administrative expense budget C. Cash budget D. All of the answers are correct.
General Motor's Nova automobile was translated into Spanish as
a. "come alive." b. "fast car." c. "doesn't go." d. "ugly old woman."
If a person owns real property in fee simple, his or her ownership has no limitation on inheritability
Indicate whether the statement is true or false
Rodriguez, Inc
had the following balances and transactions during 2017, from January 1 to December 31: Beginning Merchandise Inventory 300 units at $80 March 10 Sold 150 units June 10 Purchased 600 units at $82 October 30 Sold 450 units What would be reported for Ending Merchandise Inventory on the balance sheet at December 31, 2017 if the perpetual inventory system and the weighted-average inventory costing method are used? (Round unit costs to two decimal places and total costs to nearest dollar.) A) $24,480 B) $12,000 C) $24,000 D) $36,000