DBMS have a data definition capability to specify the structure of the content of the database
Indicate whether the statement is true or false
TRUE
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Which of the following is a true statement regarding owners’ equity?
a. APB Statement 4 and SFAC No. 6 both reflect the entity view of the firm. b. Owners’ equity consists of only two components: contributed capital and retained earnings. c. In a sole proprietorship, there is no legal distinction between contributed capital and earned capital. d. Dividends are legally paid only out of retained earnings.
Chance is a traveling marketing representative for a publishing company. He is an independent contractor and was hired without negligence. One afternoon while driving to a meeting, Chance negligently runs a stop sign and causes an accident. Judy is injured. Judy can A) hold both Chance and his company liable for her injury
B) hold the company but not Chance liable. C) hold Chance but not the company liable. D) not hold Chance or his company liable for her injury.
Which law requires the EPA to set national standards for substances if they are potentially harmful to human health?
A. Resource Conservation and Recovery Act B. Oil Pollution Act C. Safe Drinking Water Act D. Ocean Dumping Act
The most recent balance sheet and income statement of Oldaker Corporation appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$31 $29 Accounts receivable 73 79 Inventory 44 45 Property, plant and equipment 728 590 Less accumulated depreciation 253 242 Total assets$623 $501 Liabilities and stockholders' equity: Accounts payable$56 $63 Accrued liabilities 21 22 Income taxes payable 26 28 Bonds payable 121 110 Common stock 33 30 Retained earnings 366 248 Total liabilities and stockholders' equity$623 $501 Income Statement?Sales$921Cost of goods sold 575Gross margin 346Selling and administrative expense 117Net operating income229Income taxes
69Net income $160The company paid a cash dividend of $42 and it did not dispose of any property, plant, and equipment. The company did not retire any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.The net cash provided by (used in) financing activities for the year was: A. $11 B. $(42) C. $3 D. $(28)