Sole proprietorships do not need to comply with laws and regulations that govern how businesses operate
Indicate whether the statement is true or false
FALSE
Explanation: Every business, whether it is a large multinational corporation, or a small, sole proprietorship, must comply with laws and regulations that govern how businesses operate. Large or complex business entities have lawyers and legal counsel. Small business owners, whether they intend to stay small or plan to grow, generally hire lawyers only on an as-needed basis. Regardless of whether a business is large or small, the people who operate it should have a basic understanding of the laws of the U.S. legal system to be sure they are functioning within the law.
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During the understanding stage of listening, we focus on meaning, using our own reservoir of information to
a. encode the message. b. decode the message. c. disseminate the message. d. reject the message.
When preparing a statement of cash flows using the indirect method, an increase in accounts payable is added to net income
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
Of the research methods discussed in the text, the critical accounting approach is the closest to the standard-setting function.
The hierarchy of authority within a firm is described in _____
a. a goal-oriented job description b. a job description c. job analysis d. the organization chart