A business makes a cash payment of $12,000 to a supplier for supplies purchased two weeks earlier. Which of the following accounts is debited?
A) Cash
B) Accounts Payable
C) Supplies
D) Accounts Receivable
B
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Qualitative information is only relevant for decision making if it can be quantified.
Answer the following statement true (T) or false (F)
At December 31 . 2014, Ambrose Sales & Service has a $100,000, 120-day note payable outstanding. The company has followed the policy of replacing the note rather than repaying it over the last three years. The company's treasurer says that this policy is expected to continue indefinitely, and the arrangement is acceptable to the bank to which the note was issued. The proper classification of the
note on the December 31 . 2014, balance sheet is a. dependent on the intention of management. b. dependent on the actual ability to refinance. c. current liability, unless specific refinancing criteria are met. d. noncurrent liability.
Customer ________ refers to the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it.
Fill in the blank(s) with the appropriate word(s).
Excel and Lotus 1-2-3 are types of programs referred to as ____________________.
Fill in the blank(s) with the appropriate word(s).