Which statement is TRUE about folkways and mores?
A) Folkways are more concerned with serious social issues than mores.
B) Folkways and mores are equally concerned with serious social issues.
C) Mores are more concerned with serious social issues than folkways.
D) Folkways and mores are not concerned with serious social issues.
Answer: C
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Sales revenue for a sporting goods store amounted to $526,000 for the current period. All sales are on account and are subject to a sales tax of 10%. Which of the following would be included in the journal entry to record the sales transaction?
A) a debit to Sales Revenue for $526,000 B) a credit to Accounts Receivable for $526,000 C) a debit to Sales Tax Payable for $52,600 D) a debit to Accounts Receivable for $578,600