If the debit amount of an adjusting entry adjusts an income statement account, the credit amount of the adjusting entry must adjust a____ _____ account.

The firm Meek & Co., CPAs, was engaged by Reed, the president of Sulk Corp, to prepare its federal and state tax returns by March 15, Year 2, for the fiscal year ended December 31, Year 1. Meek's engagement and its fee of $20,000 were approved by Sulk's board of directors. Meek did not deliver the returns until April 15, Year 2, because Sulk did not provide Meek with the necessary information to complete the service. Sulk refuses to pay Meek. If Meek sues Sulk, Meek will

A. Prevail based on the contract. B. Prevail based on quasi-contract. C. Lose, because it breached the contract. D. Lose, because the March 15 deadline was a condition precedent to Sulk's performance.

Japanese keiretsu is considered to be a strong cooperative strategy that will have an impact in global marketing. Describe what it is and how it can affect U.S. businesses

What will be an ideal response?