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True. Shoplifting generally accounts for a larger portion of retail losses compared to employee theft. Retailers often face significant losses from shoplifting due to the high volume of theft incidents, while employee theft tends to be less frequent but can involve larger sums. Overall, the impact of shoplifting on retail businesses is substantial.
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A factory's main interests were for employee morale and profits?
False
Can an officer or employee of the US accept voluntary services to assist with reducing government spending?
False.
An officer or employee of the US may accept voluntary services to assist with reducing government spending?
false
The simplest way to calculate GDP is to sum the total sales of all business firms true or false?
True
Profit is the money a business collects from conducting business true or false?
False. Profit is not just the money a business collects; it is the amount remaining after all expenses, costs, and taxes have been deducted from total revenue. In other words, profit is the net income that indicates the financial health of a business.
Do chart of accounts have to be the same for each business?
false
When an accounts payable account is paid in cash the owner's equity in the business decreases True or False?
False. Payment of an accounts payable reduces cash and reduces accounts payable. Equity is not affected.
When a business uses a subsidiary accounts receivable ledger there is no need to keep an accounts receivable account in the general ledger true or false?
False. Even when a business uses a subsidiary accounts receivable ledger, it still needs to maintain an accounts receivable account in the general ledger. The subsidiary ledger details individual customer transactions, while the general ledger provides a summary of total accounts receivable for financial reporting and reconciliation purposes. Both are necessary for accurate financial management.
Accounts Payable represents amounts owed to debtors True False?
False, Accounts payable represents the amount payable to creditors rather debtors which is called accounts receivable.
On a chart of accounts all asset and expense accounts are in the same division?
FALSE
Accumulate depreciation accounts are liability accounts?
FALSE, It's a contra-asset
IS IT TRUE OR FALSE THAT Most businesses periodically remove bad accounts from their books?
false
True false there are two basic types of accounts in the government purchase card program managing accounts and cardholder accounts?
True
A factory's main interests were for employee morale and profits?
False
Windows service accounts will use passwords consisting of at least 15 characters?
False
You can transfer up to 5 accounts at one time?
false
Is it true or false that the Federal unemployment tax is imposed on employers and thus is not deducted from employee's wages?
false
