The Federal Reserve System acts as a clearinghouse where banks exchange checks
Indicate whether the statement is true or false
True
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An entrepreneur is asking for $1 million for 30% of his company. What is the entrepreneur’s post-money valuation?
a. $3.33 million b. $300,000 c. $2 million d. it cannot be determined
While in the process of posting from the journal to the ledger, a company failed to post a $500 debit to the Equipment account. The effect of this error will be that:
A. The total debits in the trial balance will be larger than the total credits. B. The Equipment account balance will be overstated. C. The trial balance will not balance. D. The error will overstate the debits listed in the journal. E. The error will overstate the credits listed in the journal.
The process by which a company produces finished goods or services is known as:
a. operations b. production c. manufacturing d. computer-aided manufacturing e. flexible manufacturing systems
Strength refers to the
A. capacity to keep the arms and hands steady while doing precise work. B. ability to exert oneself over a period of time. C. ability of the lungs and circulatory system to work efficiently. D. degree to which the body is capable of exerting force. E. ability to synchronize the movements of the body, arms, and legs.