Cross-sectional data are usually data gathered from approximately the same period of time from a cross-sectional of a population
a. True
b. False
Indicate whether the statement is true or false
True
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Use the following information to answer the question below. When Calvert Corporation was formed on January 1, 2010, the corporate charter provided for 50,000 shares of $20 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1 . The corporation issued 200 shares of stock to its lawyer in full payment of the $5,000
bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2 . The company issued 8,000 shares of stock at a price of $25 per share. 3 . The company issued 7,000 shares of stock in exchange for equipment that had a fair market value of $160,000. The entry to record transaction 3 would be: a. Equipment 140,000 Common Stock 140,000 b. Common Stock 140,000 Equipment 140,000 c. Equipment 160,000 Common Stock 160,000 d. Equipment 160,000 Common Stock 140,000 Additional Paid-in Capital 20,000
Regardless of whether the setting is B2C or B2B, most costs are associated with the purchase price.
Answer the following statement true (T) or false (F)
Most pit crew members have background experience in what area?
A) mechanical engineering B) athletics C) car mechanics D) automobile race driving E) No specific area—crew members come from all sorts of backgrounds.
Frescoand Garcia form a partnership—HVAC Pros. Garcia's capital contribution is $10,000, and Fresco'sis $15,000. The partnership agreement provides that profits are to be shared, with 40 percent for Garcia and 60 percent for Fresco. Later, Garcia
makes a $10,000 loan to the partnership when it needs working capital. When the partnership is dissolved, its assets are $50,000, and its debts are $8,000. How should the assets be distributed?