A financial institution can achieve cost savings by engaging in multiple activities. These are called economies of
A) scope.
B) scale.
C) complexity.
D) information.
A
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Emory Co operates five days per week with a daily payroll of $4,000 . Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, March 31 . What is the effect of the correct adjustment at March 31?
a. Increases stockholders' equity and Wages Payable by $8,000 b. Increases Wages Payable and decreases Cash by $12,000 c. Decreases stockholders' equity and increases Wages Payable by $12,000 d. Increases Wages Payable and increases Wages Expense by $8,000
The two systems that influence our processing of information are ______ and ______.
Fill in the blank(s) with the appropriate word(s).
Legacy systems are older systems that organizations decide to continue to use because the investment in a new system would not justify the improved features or because the old systems have some advantage that cannot be obtained from newer systems.
Answer the following statement true (T) or false (F)
The accounting process begins with:
A. Presentation of financial information to decision-makers. B. Analysis of business transactions and source documents. C. Preparing financial statements and other reports. D. Preparation of the trial balance. E. Analysis of prepared financial statements.