The steps to printing the Trial Balance report are to select:
A) Main Menu>>Reports & Forms>> Trial Balance >>Print>>OK.
B) Reports>>Accountant & Taxes>>Trial Balance>>Print>>OK.
C) Accountant Reports >>Trial Balance>>Print>>OK.
D) Main Menu>>General Ledger>>Trial Balance>>Print>>OK.
Answer: B
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Which of the following statements is true of the direct write-off method?
A) GAAP requires public companies to follow the direct write-off method. B) It provides better matching of revenues with expenses. C) It results in more accurate net income than any other method. D) It is only suitable for small companies that have very few uncollectible receivables.
The agreement to hold Fein harmless for all past, present, and future liabilities of ABC will
A. Prevent partnership creditors from holding Fein personally liable only as to those liabilities of ABC existing at the time of Fein's withdrawal. B. Prevent partnership creditors from holding Fein personally liable for the past, present, and future liabilities of ABC. C. Not affect the rights of partnership creditors to hold Fein personally liable for those liabilities of ABC existing at the time of his withdrawal. D. Permit Fein to recover from the other partners only amounts he has paid in excess of his proportionate share.