Luke and His Wife,Coreen,supply Cut Flowers to Florists in Dallas

question 44

Multiple Choice

Luke and his wife,Coreen,supply cut flowers to florists in Dallas.They have been approached by a salesperson for a horticultural firm that wants to sell them a product that keeps flowers fresh for a long time.Unfortunately,the owner of the horticultural company was once very rude to Coreen and she harbors some resentment toward the owner.While Luke may want to buy the product,his wife will act as a(n) _____ in this situation.

• A) influential adversary
• B) actual competitor
• C) potential competitor
• D) sales bulwark
• E) opposing implement

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Definitions:

Journalizing Transactions

The process of recording business transactions in the journal as part of the accounting process.

Correcting Entries

Journal entries made to correct errors found in the financial statements.

Adjusting Entries

Journal entries made in accounting to record revenues earned and expenses incurred that are not yet recorded through standard accounting transactions.

Closing Entries

Entries recorded at the accounting period's close to shift balances from temporary to permanent accounts.