Which of the following statements is incorrect?
a. The normal balance of accounts receivable is a debit.
b. The normal balance of owner's withdrawals is a debit.
c. The normal balance of unearned revenues is a credit.
d. The normal balance of an expense account is a credit.
e. The normal balance of the owner's capital account is a credit.
Answer: d. The normal balance of an expense account is a credit.
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The flexible budget will report ________ for the fixed costs.
A) $229,000 B) $225,000 C) $180,000 D) $286,250
Which of the following was a factor in triggering the passage of the Pure Food and Drug Act:
a. publication of Upton Sinclair's book The Jungle b. publication of Rachel Carson's book Silent Spring c. deaths WWI from impure food d. deaths in WWII from impure drugs e. all of the other specific choices are correct