Crowdfunding and crowdsourcing would both be considered which of the following strategies?
a. formal fundraising
b. bootstrapping
c. angel funding
d. none of these
b. bootstrapping
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The Financial Accounting Foundation (FAF) is the parent organization of which of the following organizations?
A) AICPA (American Institute of Certified Public Accountants) B) AAA (American Accounting Association) C) SIFMA (Securities Industry and Financial Markets Association) D) FASB (Financial Accounting Standards Board)
On December 31, 2016, the Maggie Company recognized $15,000 in revenue from rent of $5,000 due in 2017 and $10,000 due in 2018, all collected in advance from another company. Ignoring income taxes, if this error is not detected
A) Retained Earnings at December 31, 2017, will be overstated by $10,000. B) Retained Earnings at December 31, 2017, will be understated by $10,000. C) Retained Earnings will be overstated by $15,000 until the error is discovered. D) Retained Earnings at December 31, 2017, will be understated by $15,000.
Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 20%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net income of $91,000 is allocated to Yolanda?
A) $26,500 B) $46,000 C) $45,000 D) $45,500
If variable expenses decrease and the price increases, the breakeven point decreases
Indicate whether the statement is true or false