A trial balance is a(n):
A) optional financial statement used only by creditors.
B) tool used to prove the equality of debits and credits in the general ledger.
C) list of accounts and their balances taken from the chart of accounts.
D) financial statement which can be used in place of a balance sheet.
B
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The title used to address people is known as the form of address.
Answer the following statement true (T) or false (F)
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Indicate whether the statement is true or false
May, Inc. had the following transactions in 2019, its first year of operations:
• Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 per share. • Issued 2000 shares of $200 par value preferred stock at par. • Earned net income of $40,000. • Paid no dividends. At the end of 2019, what is the total amount of paid-in capital? A) $820,000 B) $460,000 C) $380,000 D) $780,000
The Acme Global Corporation needed to hire 30 new advertising sales agents. The applicant pool consisted of 100 African-American males and 100 white males. Of the 200 applicants, Acme Global hired 10 of the African-American males and 20 of the white males. Is there evidence of disparate impact?
A. Yes, the selection rate of 20 percent is less than 80 percent, so the Four-Fifths Rule is not met B. Yes, the selection rate of 5 percent is less than 16 percent, so the Four-Fifths Rule is not met C. No, the selection rate of 20 percent is more than 5 percent, so the Four-Fifths Rule is met D. No, the selection rate of 10 percent is less than 80 percent, so the Four-Fifths Rule is met E. None of the above