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Multinational corporations __________. A. are required to use international accounting standards B. are U.S. companies that sell goods and services in other countries C. are U.S. companies that trade their securities on the exchanges in other countries D. are firms that conduct their operations in more than one country through subsidiaries, divisions, or branches in foreign countries
Weegy: Multinational corporations are firms that conduct their operations in more than one country through subsidiaries, divisions, or branches in foreign countries. User: Sam's Used Cars uses the specific identification method of costing inventory. During March, Sam purchased three cars for $6,000, $7,500, and $9,750, respectively. During March, two cars are sold for $9,000 each. Sam determines that at March 31, the $9,750 car is still on hand. What is Sam’s gross profit for March? Weegy: D. $4,500 is Sam?s gross profit for March User: Which one of the following is a product cost? A. Indirect labor B. Office salaries C. Advertising costs D. Sales person’s salaries Weegy: Indirect labor is a product cost. User: To enter the net income (or loss) for the period into the above worksheet requires an entry to the __________. A. income statement debit column and the balance sheet credit column B. income statement credit column and the balance sheet debit column C. balance sheet debit column and the balance sheet credit column D. income statement debit column and the income statement credit column Weegy: Net income is entered as a credit. User: The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000 To enter the net income (or loss) for the period into the above worksheet requires an entry to the __________. A. income statement debit column and the balance sheet credit column B. income statement credit column and the balance sheet debit column C. balance sheet debit column and the balance sheet credit column D. income statement debit column and the income statement credit column Weegy: C. income statement credit column and the balance sheet debit column User: The standards and rules that are recognized as a general guide for financial reporting are called ... (More)
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Expert Answered
Updated 134 days ago|5/9/2014 7:00:48 PM
2 Answers/Comments
ADJUSTED TRIAL BALANCE is not generally used in preparing a statement of cash flows.
Added 134 days ago|5/9/2014 11:26:30 AM
In economics, the cost of something is WHAT YOU GIVE UP TO GET IT.
Added 134 days ago|5/9/2014 7:00:48 PM
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