________ is the customs value of imported goods that is based on the price actually paid or payable for goods at the time they were sold for export
A. Transaction value
B. Deductive value
C. Computed value
D. Derived value
A
Business
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The accountant for Hobson Electrical Repair, Inc. failed to make an adjusting entry to record $5,000 of unpaid salaries for the last two weeks of the year. Which of the following statements is true?
A) The total revenue will be overstated. B) The total revenue will be understated. C) The total expenses will be overstated. D) The total expenses will be understated.
Business
The Sales Discounts account is a contra account to the ________ account
A) Purchases B) Sales Revenue C) Merchandise Inventory D) Sales Returns and Allowances
Business