All costs incurred to purchase land and prepare it for its intended use are debited to Land Improvements Expense

Indicate whether the statement is true or false


F

Business

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The reliability of audit evidence relates to the connection between the audit procedure being performed and the assertion being audited

a. True b. False Indicate whether the statement is true or false

Business

On March 1, 2018, Rawlins Company invests $25,000 in Ashton Company stock. Ashton pays Rawlins a $800 dividend on September 30, 2018. Rawlins sells the Ashton stock on November 30, 2018 for $23,500. Assume the investment is categorized as a short-term equity investment and that Rawlins does not have significant influence over Ashton.

Requirements: 1. Journalize the transactions for Rawlins' investment in Ashton's stock. 2. What was the net effect of the investment on Rawlins' net income for the year ended December 31, 2018.

Business

Good leaders are not necessarily good listeners

Indicate whether the statement is true or false

Business

If Gerard Koontz retires from being a general partner in a limited partnership, which of the following is true?

A) A member from Mr. Koontz's immediate family is allowed to take his partnership interest. B) Only the person Mr. Koontz nominates can take his partnership interest. C) The partnership is dissolved according to RULPA norms. D) The partnership operates normally without a general partner.

Business