Double-entry accounting is best characterized as:
a. The number of debit entries posted to the ledger equals the number of credit entries.
b. The number of ledger accounts with debit balances is equal to the number with credit balances.
c. Every transaction affects both an asset account and either a liability account or a stockholders' equity account.
d. The total dollar amount of debit entries posted to the ledger is equal to the dollar amount of the credit entries.
d
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Which of the following statements regarding buy-sell agreements is NOT correct?
A) The buyer of the business is the beneficiary. B) Buy-sell agreements may be funded with life insurance. C) The death benefit is the purchase price of the business interest. D) Buy-sell agreements are only funded with annuities."
The Nordstrom sales associate replacing shirts at no cost to the client is an example of ____________
a. centralized decision-making b. service theft c. employee empowerment d. service sabotage e. rule setting