On which financial statement will Income Summary be shown?
A) Statement of Owner's Equity
B) Balance Sheet
C) Income Statement
D) No financial statement
D
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A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9 . Subsequently, the company declared a 2% stock dividend on a date when the market price was $10 a share. The effect of the declaration and issuance of the stock dividend is to
a. decrease retained earnings, increase common stock, and increase paid-in capital b. increase retained earnings, decrease common stock, and decrease paid-in capital c. increase retained earnings, decrease common stock, and increase paid-in capital d. decrease retained earnings, increase common stock, and decrease paid-in capital
GAAP requires that cash paid for interest on a note payable is always recorded in the operating activities of the cash flow statement
Indicate whether the statement is true or false
Which of the following is another name for the thesis statement of an informative speech?
a. Proposition b. Primary argument c. Central idea d. Call to action
Zero-based budgeting requires the preparation of budget from scratch
Indicate whether the statement is true or false