The base amount for a common-size balance sheet is usually total assets.
Answer the following statement true (T) or false (F)
True
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Frank Company earned $15,000 of cash revenue. Which of the following accurately reflects how this event affects the company's accounting equation? Assets=Liabilities+CommonStock+RetainedEarningsA.15,000=NA+15,000+NAB.15,000=NA+7,500+7,500C.15,000=NA+NA+15,000D.15,000=15,000+NA+NA
A. Option A B. Option B C. Option C D. Option D
[The following information applies to the questions displayed below.]On January 1 Year 1, Gordon Corporation issued bonds with a face value of $70,000, a stated rate of interest of 6%, and a 5-year term to maturity. The bonds were issued at 98. Interest is payable in cash on December 31 each year. Gordon uses the straight-line method to amortize bond discounts and premiums.Which of the following shows the effect of the bond issuance on the elements of the financial statements? Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt. ofCash FlowsA.70,000=70,000+NANA?NA=NA70,000FAB.68,600=68,600+NANA?NA=NA68,600FAC.68,600=70,000+(1,400)NA?1,400=(1,400)68,600FAD.70,000=68,600+1,400NA?(1,400)=1,40070,000FA
A. Option A B. Option B C. Option C D. Option D
Which person argued that a corporate manager's primary responsibility is to the shareholders of the organization and that managers should make the company as profitable as possible while also complying with the law?
A) John Rawls B) John Stuart Mill C) Immanuel Kant D) Milton Friedman
A preliminary prospectus is called a/an ________
A) indenture B) tombstone C) red herring D) letter of comment