The accountant at Abco, Inc. made an adjusting entry at the end of February to accrue interest on a note receivable from a customer. The effect of this entry is to:
A) decrease ROI for February.
B) increase ROI for February.
C) decrease working capital at February 28.
D) decrease the acid-test ratio at February 28.
Correct Answer:
Verified
Q3: In an advertiser's records, a newspaper ad
Q4: A debit entry will:
A)decrease an asset account.
B)increase
Q5: The effect of an adjustment is:
A) to
Q8: In the buyer's records, the purchase of
Q8: Martin & Associates borrowed $15,000 on April
Q10: A newspaper ad submitted and published this
Q11: A journal entry recording an accrual:
A) results
Q16: Wisdom Co.has a note payable to its
Q19: Which of the following is not one
Q20: A debit entry will:
A)always decrease the account
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