A formal statement of the results of the operation of a business during an accounting period is called a(n)
a. income statement; b. balance sheet;
c. statement of condition; d. statement of equities; e. trial balance
A
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Treasury stock refers to the shares of stock that have been reacquired by the issuing corporation and that have not been formally canceled
a. True b. False Indicate whether the statement is true or false
An operating segment is a component of a company
A) that engages in business activities to earn revenues and incur expenses. B) whose operating results are regularly reviewed by the company's chief operating officer for budgeting and evaluation purposes. C) for which financial information is available. D) All of these types of companies would have an operating segment as a component.
If assets are $405,000 and equity is $140,000, then liabilities are:
A. $405,000. B. $545,000. C. $670,000. D. $140,000. E. $265,000.
The national standard of care is a doctrine that states that a state ________
A. must treat aliens the same way that it treats its own nationals B. must try an alien according to the laws existing in the alien's country C. is responsible for injury to an alien when the state violates international norms D. is liable for the actions of the alien within its territory