The Office of Price Administration (OPA) was established within the Office for Emergency Management on August 28, 1941, in order to control prices (and thus inflation) and rents after the outbreak of World War II.
Answer: D. the untrue statements were not material
Explanation: In the registration statement Space Trips inc filed to SEC before public offering , the registration was containing false and immaterial statement of which the public are not aware of . So it best defense will be " the untrue statements were not material", since Space Trips inc have been charge with violating the Securities Act of 1933.
The government may either sell goods or render services like train, city bus, electricity, transport, posts and telegraphs, water supply, etc. The government also earns revenue from the production of commodities like steel, oil, life-saving drugs, etc.
A company paid $500 cash for a new printer. the entry to record this transaction would include a Credit to cash.
To show that the supplier has received payment, the amount is deducted from their accounts payable account. It will thereafter be assigned to an invoice that is posted to the supplier's account. The business has paid for cash, and it has to be added to the cash asset account.
When a company pays a supplier cash but the money is not credited to a specific supplier invoice or the supplier has not yet received an invoice, a paid cash on account journal entry is required. Consider a scenario where a company requests design services and pays a provider $2,000 in cash.
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