Which of the following statements is true of delimited files?
A) Microsoft Access can import only tab-delimited files.
B) Delimited files cannot be imported by Microsoft Excel.
C) A comma-delimited file has data that contains commas.
D) Field values in a tab-delimited file are separated by tabs.
D
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A ______ is created when two or more firms share ownership of a new company.
a. joint venture b. strategic alliance c. direct investment d. contract
(CMA adapted, Dec 95 #28) Refer to the Winner Company example. Cost of goods sold for the year ended September 30, Year 5, for Winner Company is
a. $262,000 b. $252,000 c. $260,000 d. $248,000 e. $224,000
Follow up after the sale if for the purpose of evaluating the effectiveness of the product.
Answer the following statement true (T) or false (F)
The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. Accounts receivable$435,000DebitAllowance for Doubtful Accounts 1,250DebitNet Sales 2,100,000CreditAll sales are made on credit. Based on past experience, the company estimates 1% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $7,350; credit Allowance for Doubtful Accounts $7,350. B. Debit Bad Debts Expense $22,250; credit Allowance for Doubtful Accounts $22,250. C. Debit Bad Debts Expense $15,225; credit Allowance for Doubtful Accounts $15,225. D. Debit Bad Debts Expense $21,000; credit Allowance for Doubtful Accounts $21,000. E. Debit Bad Debts Expense $19,750; credit Allowance for Doubtful Accounts $19,750.