Answer the following statement(s) true (T) or false (F)
1. A sole proprietorship certificate must be obtained from the secretary of state’s office before a sole proprietor can begin transacting business.
2. When a sole proprietor uses an assumed name, some states require that a notice of intent to transact business under an assumed name be published.
3. A sole proprietor may hire any number of employees.
4. The rules of ethics that apply to attorneys may apply to the paralegals who work for them.
5. A sole proprietor may delegate managementand decisions
concerning the business to agents and employees.
1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. TRUE
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Regional economic integration means companies are more likely to enter entire regions at the same time
Indicate whether the statement is true or false
The underlying component of a successful sales presentation is:
A. utilizing statistical information as support. B. explaining product features clearly. C. identifying important product advantages. D. differentiating between wants and needs. E. determining the customer's needs.
At December 31, Yarrow Company reports the following results for its calendar year from the adjusted trial balance.Credit sales$2,300,000Cash sales1,050,000Accounts Receivable295,000Allowance for doubtful accounts (credit balance)750a. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 1.1% of credit sales.b. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be .8% of total sales.c. Prepare the adjusting entry to record Bad Debts Expense assuming uncollectibles are estimated to be 7.0% of year-end accounts receivable.
What will be an ideal response?