A company could improve its acid-test ratio by selling some equipment it no longer needs for cash.
Answer the following statement true (T) or false (F)
True
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Which one of the following would not be considered an advantage of the corporate form of organization?
a. government regulation b. separate legal existence c. continuous life d. limited liability of stockholders
Happy Corporation leased a building from Sensor Company. The 10-year lease is recorded as a capital lease. The annual payments are $10,000 and the recorded cost of the asset is $67,100 . The straight-line method is used to calculate depreciation. Which of the following statements is true?
a. Depreciation expense of $6,710 will be recorded each year. b. Depreciation expense of $10,000 will be recorded each year. c. No depreciation expense will be recorded by Happy Corporation. d. No interest expense will be recorded by Happy Corporation.
The U.S. Supreme Court has repeatedly upheld the fundamental principle that government employees acting beyond their authority can still bind the government based upon apparent authority
a. True b. False Indicate whether the statement is true or false
Marketing only applies to for-profit organizations.
Answer the following statement true (T) or false (F)