In 2013, the nonprofit sector employed what percentage of the total U.S. workforce?
A. 5%
B. 10%
C. 20%
D. 30%
B. 10%
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A 15% change in sales will result in a 15% change in net income
Indicate whether the statement is true or false
The bookkeeper recorded a payment by check for the purchase of store supplies as a debit to Store Supplies and a credit to Cash for $1,340.56 . The check was recorded by the bank at its correct amount of $3,140.56 . Prior to the preparation of the bank reconciliation, the error would cause:
a. the trial balance to be out of balance. b. the Accounts Payable account to be understated. c. the Cash account to be understated. d. the Store Supplies account to be overstated. e. a possibility that the checking account might become overdrawn.
The process of a partnership converting its noncash assets to cash, and then paying off the liabilities and distributing remaining funds to the partners, is called dissolution
Indicate whether the statement is true or false
The Paris Convention gives a trademark holder in any signatory country a "right of priority."
Indicate whether the statement is true or false