Which of the following accounts should NOT be closed to Income Summary at the end of the fiscal year?

A) Salaries Expense
B) Fees Earned
C) Utilities Expense
D) Withdrawals

Ken, an HR manager at Colonial Corp., wishes to design jobs that do not exceed the mental capabilities and limitations of employees. To do so, Ken would most likely have to

A) allow employees to opt for a compact workweek schedule.
B) control autonomy and stress error-free work.
C) increase the amount of reporting requirements and documentation.
D) train employees to multitask and self-manage teams.
E) reduce the information-processing requirements of a job.

On December 31, a business estimates depreciation on equipment used during the first year of operations to be $2,900.
(a) Journalize the adjusting entry required on December 31.
(b) If the adjusting entry in
(a) were omitted, which items would be erroneously stated on
(1) the income statement for the year and
(2) the balance sheet as of December 31?

A contract clause that excludes liability for willful misconduct is enforceable if the provision is sufficiently prominent in the body of the contract.

When a binding price floor is imposed on a market for a good, some people who want to sell the good cannot do so.

Imagine that you are a marketing executive for a company that manufactures office supplies, including pens and pencils. What type of marketing strategy would you consider for these products, and why?