In the 1980s, regulators engaged in bureaucratic gambling when they allowed insolvent S&Ls to continue operating

Indicate whether the statement is true or false


TRUE

Business

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Hannah Johnson contributed equipment, inventory, and $53,000 cash to the partnership. The equipment had a book value of $25,000 and a market value of $28,000 . The inventory had a book value of $50,000, but only had a market value of $15,000 due to obsolescence. The partnership also assumed a $12,000 note payable owed by Hannah that was originally used to purchase the equipment. What amount

should be recorded to Hannah's capital account? a. $96,000 b. $84,000 c. $108,000 d. $116,000

Business

During the early days of business growth, many sold or bartered products from their homes in what became known as ________.

A. service industries B. cottage industries C. customer-focused organizations D. outsourcing organizations

Business

BoTeck is a full-service technology company. It provides equipment, installation services, and training services. Customers can purchase any product or service separately or as a bundled package. On May 3, Box-Rite Corporation purchased computer equipment, installation, and training for a total cost of $120,000. Estimated stand-alone fair values of the equipment, installation, and training are

$75,000, $50,000, and $25,000 respectively. The journal entry to record the sale and installation on May 3 will include A) credit to Service Revenue of $50,000. B) credit to Sales Revenue for $120,000. C) credit to Unearned Service Revenue of $20,000. D) debit to Unearned Service Revenue of $25,000.

Business

Causality refers to when the occurrence of X causes the occurrence of Y

Indicate whether the statement is true or false

Business