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A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is A. debit Salaries Payable, $8,000; credit Cash, $8,000 B.

What are the differences between tangible and intangible resources? Which category of resources is more valuable to the firm?

Measuring the price of gasoline in dollars, an economist calculates the price elasticity of demand to be -.5. What would the price elasticity of demand be if the economist had chosen to measure the price of gasoline in pennies rather than dollars? A.

Tee Time Golf Resort has the opportunity to buy 1,000 acres of property adjacent to its award-winning 18-hole golf course.

Match each type of business with the person or persons who get to keep the business's profits. A. Corporation Individual owner B. Partnership Stockholders C. Sole proprietorship Various investors

A fixed cost: Does not change with changes in the volume of activity within the relevant range. Requires the future outlay of cash and is relevant for future decision making. Is irrelevant for managers' decision making.

You are working in the dining room as a host/hostess. There is a dirty table, there are no ketchup packets available for the guests because they need to be refilled, and there is a spill on the floor. What do you do, in what order, and why?

Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31.

Who is following the law when it comes to protecting investors' funds? a financial planner who pitches a risk-free stock a mutual fund advisor who informs investors about risks a broker who sells CDs from nonfinancial institutions a realtor who

Jared runs a personal training studio, earning $5,000 last month. His fixed costs are $4,000, and his variable costs are $3,500. Should Jared shut down his business immediately? a) Yes, because he is clearly losing money.