Which of the following transactions requires a journal entry?
A) The bank charged $50 for a stop payment on a check.
B) The bank deducted $50 from your account in error.
C) The bank collected a note receivable with interest on your behalf.
D) A and C
D
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Which of the following is the correct formula to calculate inventory turnover?
A) Inventory turnover = Cost of goods sold / Average merchandise inventory B) Inventory turnover = Cost of goods sold x Average merchandise inventory C) Inventory turnover = Cost of goods sold + Average merchandise inventory D) Inventory turnover = Cost of goods sold - Average merchandise inventory
What is the term introduced to represent the concept of interdependence of organizations and publics in their environments?
A. Open system D. Proactive B. Integration E. Reactive C. Ecology