In a university, class cancellation refunds of tuition and fees should be recorded as:I. a reduction of revenue from tuition and fees. II. a reduction of accounts receivable.
A. Either I or II
B. II only
C. Neither I nor II
D. I only
Answer: D
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Under the equity method, the receipt of cash dividends on an investment in common stock of Vallerio Corporation is accounted for as a debit to Cash and a credit to
a. Investment in Vallerio b. Retained Earnings c. Dividend Revenue d. Dividend Receivables
In order to estimate future demand, companies commonly prepare a company sales forecast first, followed by an industry forecast, and finally a macroeconomic forecast
Indicate whether the statement is true or false
A(n) ________ is a device that enables members of a local network to access the network while keeping nonmembers out of the network.
A) burglar alarm B) firewall C) fireproof vault D) electronic sensor
To raise funds for the Humane Society, a thrift shop will be considered. Even without rent, the board must consider if there would be enough __________ to cover the various _________________ such as a store racks and shelves, manger’s salary, and utilities..
a. profit margin …. accounts payable b. profit margin …. accounts receivable c. cash …. merchandising d. assets …. profit margin