The number of children in a family is a discrete variable.
Answer the following statement true (T) or false (F)
True
Discrete variables have gaps between the values. A family will have zero, one, two, or more children. An individual family cannot have values between those gaps, such as 1.5 children.
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In entering transactions concerned with sales of merchandise, which of the following accounts is(are) usually needed?
a. Sales; b. Sales Tax Payable; c. Sales Returns and Allowances; d. all of these; e. none of these
Which of the following questions is a part of the analyzing stage of the ACE process for delivering bad news?
A) Have I avoided legal complications? B) Is the bad news stated clearly and sensitively? C) Should I include an apology? D) Should I begin with the bad news or lead up to it? E) How can I clearly phrase the bad news?
A company has $104,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 5% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $940 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
A. $5200 B. $6140 C. $4260 D. $5247 E. $5153
Like a sole proprietorship or a partnership, the members of a limited liability company have unlimited liability for the firm’s debts.
Answer the following statement true (T) or false (F)