For the year, cash sales are $700,000 and credit sales are $2,500,000. management estimates that 1% is the sales percentage to use. what adjusting entry will valli company make to record the bad debts expense?

Which of the following services will be provided by a full-service broker but not by a discount broker? i. research of potential investment opportunities ii. purchase and sale of stock at your request iii. recommendation of investments a. i and iii b. ii only c. iii only d. i, ii, and ii

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm.b. implicit costs.c. operating costs.d. fixed costs.