The preparation of a statement of stockholders' equity makes which other financial statement unnecessary?
a. Income statement
b. Statement of cash flows
c. Statement of retained earnings
d. Balance sheet
C
Business
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Redfearn Company has current assets of $150,000 and current liabilities of $60,000 . How much inventory could it purchase on account and achieve its minimum desired current ratio of 2 to 1?
a. $10,000 b. $20,000 c. $30,000 d. $40,000
Business
Which of the following is not a measurement issue in accounting?
a. Valuation b. Recognition c. Evaluation d. Classification
Business
The post-closing trial balance contains
a. nominal accounts only. b. both real accounts and nominal accounts. c. real accounts only. d. neither real accounts nor nominal accounts.
Business
Describe the relationship between national culture and organizational culture.
What will be an ideal response?
Business