1. Emily Gau owns and operates Gaus Casual Dining. Emily should record the cost of wages paid to restaurant employees as a(n)

A		liability.
B		expense.
C		revenue.
D		asset.

2.

Managerial accounting

A		is required by taxing authorities such as the IRS.
B		is primarily directed at external users of accounting information.
C		focuses on future performance.
D		must follow GAAP.

3.

A credit to the accounts receivable account

A		indicates an increase in the amount owed by customers.
B		is an error.
C		indicates a decrease in the amount owed by customers.
D		must be accompanied by a debit to an liability account.