The sum of the relative frequencies for all classes in a histogram always equals
a. the number of classes.
b. the class width.
c. the total of all the frequencies.
d. one.
D
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After closing the temporary owners' equity accounts into Income Summary, and after allocating the net income and closing the partners' drawing accounts, assume the partners' capital accounts had credit balances as follows: Peluso, $20,000; Odin, $30,000; Nazaro, $45,000 . Partners share profits and losses as follows: Peluso, 20%; Odin, 30%; and Nazaro, 50%. If Peluso purchased Nazaro's interest
in the partnership for $40,000 cash, the amount entered in Nazaro's capital account is a a. $5,000 debit. b. $40,000 debit. c. $40,000 credit. d. $45,000 debit.
Ethical principles are derived from all of the following except:
A. Societal traditions. B. Personal attitudes on issues of right and wrong. C. Cultural values. D. Cost benefit analysis.
Which of the following is an example of a deferral?
A) Debit Salaries Expense, credit Salaries Payable B) Debit Accounts Receivable, credit Service Revenue C) Debit Property Taxes Expense, credit Property Taxes Payable D) Debit Insurance Expense, credit Prepaid Insurance
In a manufacturing company, an accountant's salary is a value-adding cost
Indicate whether the statement is true or false