No-par stock that is assigned a stated value by the board of directors is accounted for in virtually the same way as par value stock
a. True
b. False
Indicate whether the statement is true or false
True
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The number of days' sales in inventory is one means of expressing the relationship between the cost of goods sold and inventory
a. True b. False Indicate whether the statement is true or false
Laverne's Soda Shop wishes to decrease variable costs. Which of the following options should she consider?
A) Decrease in advertising costs B) Decrease in rent C) Decrease in direct labor costs D) Increase in equipment rentals
What are licensing statutes?
What will be an ideal response?
Jonathan Lopez wants to be his own boss and ventures into retailing fruit in the neighborhood after borrowing some money from his mother
While obtaining a license to carry out business in his city, Jonathan mentions the money he borrowed but forgets to specify what type of business undertaking his store will be. Under which of the following major forms of business is Jonathan's store listed by default? A) a general partnership B) a sole proprietorship C) a limited partnership D) a limited liability corporation