Which of the following is NOT one of the eight types of business law?

A) contract law
B) consumer-protection law
C) environmental law
D) bankruptcy law
E) property law

Answer: C
Explanation: C) Environmental law is not one of the eight types of business law.

Business

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Which of the following is false?

A. Sales is a revenue account with a normal credit balance. B. Sales Discounts is a contra-revenue account with a normal debit balance. C. Inventory is an asset account with a normal debit balance. D. Cost of Goods Sold is an asset account with a normal debit balance.

Business

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NAt the end of the accounting period, Signet Co. recognized accrued salaries.AssetsLiabilitiesEquityRevenuesExpensesNet IncomeCash Flow???????

What will be an ideal response?

Business