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. $5153
B. $5247
C. $6140
D. $5200
E. $4260
Answer: E
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Steve is an American Porsche customer who is ambitious, power-driven, and expects to be noticed by others. He expects to be recognized as an owner of a Porsche. Which of the following psychographic categories does Steve belong to?
A) Proud Patrons B) Top Guns C) Elitists D) Fantasists
The random variable x is the number of occurrences of an event over an interval of ten minutes. It can be assumed that the probability of an occurrence is the same in any two time periods of an equal length. It is known that the mean number of occurrences in ten minutes is 5.3. The probability that there are 8 occurrences in ten minutes is
A. .0241. B. .0771. C. .1126. D. .9107.
Courts have responded by piercing the veil when the shareholders have:
a. not followed the formalities of corporate procedures. b. not provided an adequate financial basis for the business. c. used the corporation to defraud. d. All of these. e. Not followed the formalities of corporate procedures or used the corporation to defraud.
Business definition answers the questions of who, what, and ________.
A. how B. when C. why D. None of these.