The equity reporting for a Limited Liability Company is similar to that of a partnership but the changes in capital are shown on a statement of members' equity

Reversing entries are special journal entries that ease the burden of accounting for transactions in a later period

Indicate whether the statement is true or false

When responding to a customer's request for an adjustment, it is usually sensible to assume that

A) if you handle the situation well, the customer will be even more loyal than before. B) the customer's account of the situation is exaggerated. C) the customer is hostile. D) the customer is trying to pull a fast one. E) the customer will no longer do business with you, even if you grant the request.