Tests of operating effectiveness ordinarily include reperformance of the application of controls.
Answer the following statement true (T) or false (F)
True
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In the aggregate demand-aggregate supply model, everything else remaining unchanged, an increase in capital stock shifts the ____ to the ____.
A. long-run aggregate supply; right B. aggregate demand; right C. short-run aggregate supply; left D. aggregate demand; left
The entry to record the retirement of treasury stock will include a debit to Common Stock for the amount of the cost to retire the shares
Indicate whether the statement is true or false
Ordinary repairs usually result in a debit to the appropriate Accumulated Depreciation account
Indicate whether the statement is true or false
Ernest operates an ice cream stand during the months of May, June, July, and August. Ernest's ice cream machine is broken and needs a new part to run. He contracts to have the part shipped to him by special carrier. Ernest emphasizes that the part needs to be delivered by April 25 and the carrier agrees, knowing that Ernest intends to open his stand May 1 . If the shipper fails to deliver the
part on April 25, Ernest will be able to recover consequential damages caused by the delay. a. True b. False Indicate whether the statement is true or false