California Company sold a product for $7,150 to Alliance Enterprises on credit. The cost of goods sold is $5,650. Assuming the firm is following a perpetual inventory system and using a sales journal, it will record $5,650 in the ________.
A) Accounts Receivable DR, Sales Revenue CR column
B) Cost of Goods Sold DR, Merchandise Inventory CR column
C) Merchandise Inventory DR, Cost of Goods Sold CR column
D) Sales Revenue DR, Accounts Receivable CR column
B) Cost of Goods Sold DR, Merchandise Inventory CR column
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Children exert little influence on family buying decisions, particularly in areas such as clothing and software
Indicate whether the statement is true or false
Alexis performs the duties of her job and offers to take on extra work. She is likely a part of which of her leader’s groups?
A. out-group B. in-group C. control group D. discipline group
Using a firm’s past financial statements to determine if changes should be made in future resource acquisitions or operational activities is an example of ____ control method.
a. Preliminary b. Quality c. Concurrent d. Feedback
Absorption costing is usually used for internal management purposes, and variable costing is usually used for external reporting purposes.
Answer the following statement true (T) or false (F)