Author Question: Transactions which do not affect the cash account do not need to be entered in the journal, since ... (Read 62 times)

PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
Transactions which do not affect the cash account do not need to be entered in the journal, since they do not affect net income or loss.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Which of the following departments is most likely to be a profit center?
 
  A) the accounting department of a company that also assists in budgeting process
  B) the research and development department of a company
  C) the sales department of a company whose objective is to maximize the revenues
  D) the consulting department of a law firm



bblaney

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

False

Answer to Question 2

Answer: D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

For a complete list of videos, visit our video library