Operating leverage is concerned with the relationship between a firm's sales revenue and its financial expenses

Which of the following entries will be necessary to close the Insurance Expense account at the end of the year?

A) debit Insurance Expense and credit Income Summary B) debit Insurance Expense and credit Common Stock C) debit Retained Earnings and credit Insurance Expense D) debit Income Summary and credit Insurance Expense

The first major decision company leaders must make concerning public relations is:

A) who will handle the various activities, an internal department or an external agency B) the objectives of the public relations effort C) how it will be integrated with the firm's IMC plans D) the criteria for the selection of a public relations firm