Which of these is NOT true regarding the Bill of Rights?
A. It consists of the first ten amendments to the U.S. Constitution.
B. It was ratified in 1791.
C. It guarantees certain fundamental rights.
D. It allows for government intrusion into fundamental rights.
Answer: D
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Which one of the following is a financing activity of a business?
a. Paying for purchases of inventory b. Issuing stock for cash c. Paying salaries d. Purchasing a manufacturing plant
A company's accountant capitalized a payment that should have been recorded as a revenue expenditure. How will this error affect the company's financial statements?
A) Net income will be understated. B) Expenses will be overstated. C) Assets will be overstated. D) Liabilities will be overstated.
Which of the following is not considered when preparing the cost of goods sold budget?
a. Budgeted factory overhead. b. Budgeted dollar value of finished goods inventory at the end of the period. c. Budgeted sales dollars. d. Budgeted dollar value of work-in-process inventory at the beginning of the year.
The effective use of persistence means pursuing your goals blindly and rigidly.
Answer the following statement true (T) or false (F)