A party may ask for legal, but not equitable, remedies in a single court
Indicate whether the statement is true or false
False
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Gestation is the process of gift exchange
Indicate whether the statement is true or false
The current operating school of thought holds that:
a. All components of comprehensive income should be in the income statement. b. The income statement should contain only normal operating components of comprehensive income. c. Retained earnings should reflect only total earnings as reported in the income statement and dividend distributions, in addition to beginning and ending balances. d. Unusual or infrequently occurring gains and losses should be reported on the income statement.
Which of the following is true of an undisclosed agency?
A) The third party has no knowledge of the agency. B) The third party knows the agent, not the principal. C) All transactions with the third party are made by the principal without involving the agent. D) Transactions under such an agency are considered unlawful.
Which of the following factors is assessed using the debt ratio?
A) expenses B) revenues C) risk D) income