Which of the following statements about the Retained Earnings account is correct?
A. Retained Earnings is a temporary account, while income statement accounts are permanent accounts.
B. Retained Earnings and income statement accounts are all temporary accounts.
C. Retained Earnings and income statement accounts are all permanent accounts.
D. Retained Earnings is a permanent account; income statement accounts are temporary.
Answer: D
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While formulating marketing strategy, companies such as Amway, Tupperware, and Mary Kay Cosmetics differentiate on the basis of:
A) retail sales as opposed to door-to-door. B) door-to-door as opposed to retail sales. C) retail sales as opposed to mass marketing. D) mass marketing as opposed to customized marketing.
Media choices can be divided into oral, written and visual media
Indicate whether the statement is true or false.
Select the statement that correctly describes the dependence effect derived from John Kenneth Galbraith's ideas on consumer affluence.
A. Consumer demand depends on what producers have to sell. Demand is a function of supply. Advertising creates wants. B. Consumers depend on the free market to learn about the products they may need and want. C. Owners of productive capital depend on giving consumers what they want; otherwise they would lose their investment. D. Supply follows and depends on demand; consumers are only getting what they want.
Recording incurred but unpaid expenses is an example of an accrual
Indicate whether the statement is true or false