The basic accounting equation may be expanded to include the income statement effects of operating activities. Which of the statements below is correct regarding the expanded accounting equation?
A. Expenses are increased by credits and revenues are increased by debits.
B. Expenses are increased by debits and revenues are increased by credits.
C. Net Income increases the Common Stock account.
D. Retained Earnings is reduced by net income.
Answer: B
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Identify the right statement regarding the effects of unions on company performance.
A. The introduction of a union invariably results in the employer paying less attention to employee ideas. B. Most studies show that union workers are less productive than nonunion workers. C. As a result of the type of pay system favored by unions, employees are more inclined to compete than cooperate. D. On average, union members receive higher wages and more generous benefits than nonunion workers. E. Evidence shows that unions have a large positive effect on profits.
Delaney is an accountant charged with negli¬gence by Estimation & Valuation Services Inc, a client. Delaney may successfully defend against the claim if he can show that
a. scienter was lacking. b. he complied with all International Financial Reporting Standards. c. the negligence was not the proximate cause of the client's losses. d. the negligence was only contributory.
Under the Due Process Clause, for a state tax to be constitutional, a sufficient link must exist between the state and the person, thing, or activity to be taxed
Indicate whether the statement is true or false
According to the NLRB, an employer unilaterally abrogating an agreement _____ is guilty of violating Section 8(a)(5 ) of the NLRA.?
A) ?before reelecting the bargaining unit B) after modifying it terms and conditions? C) that is under consideration of the NLRB? D) without obtaining bankruptcy court relief