The application for employer identification number must be filed with the
A. secretary of state.
B. State Unemployment Insurance Department.
C. Internal Revenue Service.
D. U.S. Department of Labor.
C. Internal Revenue Service.
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All of the following statements are true regarding the use of a work sheet at the end of an accounting period except:
a. all companies use a ten-column work sheet. b. the net income of the period is extended from the income statement debit column to the balance sheet credit column. c. the beginning balance in the Retained Earnings account is entered initially on the work sheet on the unadjusted trial balance. d. cash is always carried over from the unadjusted trial balance columns of the work sheet to the balance sheet columns without any adjustment.
The method of accounting that only recognizes expenses when cash is paid for expenses incurred is called
a. the accrual basis of accounting; b. revenue and expense accounting; c. the cash basis of accounting; d. the merchandise basis of accounting; e. the commercial basis of accounting
The use of a firm's total retail strategy to satisfy its target market represents the coordinated effort phase of the retailing concept
Indicate whether the statement is true or false
Which of the following statements regarding budgets is true?
A) They rarely use estimates. B) They should not be used for performance evaluations. C) They should focus on past performance. D) They will likely require the input of more than one manager.