Burst activities are those with two or more successor activities

Your Best Advisors, a service company, uses reversing entries

On March 31, 2016, they journalized and posted the following adjusting entry to accrue Utilities Expense: Utilities Expense 400 Utilities Payable 400 Which of the following entries is the correct reversing entry to be prepared on April 1, 2016? A) Utilities Payable 400 Utilities Expense 400 B) Utilities Expense 400 Income Summary 400 C) Cash 400 Utilities Expense 400 D) Utilities Expense 400 Accounts Receivable 400

A broad market definition includes all potential substitute products

Indicate whether the statement is true or false