Under the 1934 Act, accountants are liable for negligent behavior
Indicate whether the statement is true or false
F
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Catherine's is a chain of retail stores having merchandise assortments for women over size 14. Women who meet this criterion form a
A. demographic set. B. retail market segment. C. subculture. D. reference group. E. consideration set.
Use the following account balances from the adjusted trial balance columns of RB Auto's worksheet to answer below question.AccountDebit BalanceCredit Balance Cash 20,500 Merchandise Inventory 1,000 Accounts Payable 2,800 R. Holloway, Drawing 500 R. Holloway, Capital 13,000 Sales 15,000 Purchases 2,000 Purchase Returns and Allowances 200 Rent Expense 3,000 Salaries Expense 4,000 Select the closing entry that RB Auto would make at the end of the accounting period to close their revenue accounts and income statement accounts with credit balances.
A. debit Sales and credit Income Summary for $15,000. B. debit Sales for $15,000; debit R Holloway, Capital for $13,000 and credit Income Summary for $28,000. C. debit Sales $15,000; debit Purchase Returns and Allowances $200 and credit Income Summary for $15,200. D. debit Income Summary for $15,000 and credit Sales for $15,000.
In many cases, companies that enter a market after innovative products have been introduced can achieve long-term competitive advantages by continuing to develop a better mousetrap. For example, VisiCalcwas the first company to introduce a desktop spreadsheet program, but Lotus Notes cornered a large market share when it introduced the 1-2-3 program. Today, however, Microsoft's Excel is the dominant spreadsheet software program and has continued to endure due to the popularity of the Microsoft Office Suite of products. VisiCalc possessed a ___________ advantage while Microsoft enjoyed a ___________ advantage.
A. first-mover; late-mover B. late-mover; first-mover C. sustainable; unsustainable D. economic; technological
What happens during the shakeout stage of the industry life cycle?
What will be an ideal response?