If you have five friends who tell you they all have had great experience with their purchase of a Chevrolet, and you used this evidence to decide to buy a Chevrolet, you would be using:

A) consumer self-report and evaluation
B) deductive statistics
C) generalization
D) independent judgment
E) statistical logic


C

Business

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Under current accounting principles, how is net income on the income statement measured?

a. Net change in owners' equity during the period b. Excess of revenues over expenses during the period c. Net change in the cash balance during the period d. Excess of revenues over expenses less any dividends paid during the period

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What is the adjusting entry for that portion of revenue received in advance which has now been earned?

A) Unearned Revenue - Debit; Cash - Credit B) Unearned Revenue - Debit; Service Revenue - Credit C) Service Revenue - Debit; Unearned Revenue - Credit D) Cash - Debit; Unearned Revenue - Credit

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In an employment agreement with Carl, Arnold promises to work for Carl for the rest of his life. This promise must be in writing or in proper electronic form to be enforceable

a. True b. False Indicate whether the statement is true or false

Business

For a person to acquire an easement, he must have the permission of the owner to use the land

a. True b. False Indicate whether the statement is true or false

Business