The independent group consisting of individuals from many countries and identifies preferred accounting practices for all countries is the:
A. AICPA.
B. SEC.
C. FASB.
D. CAP.
E. IASB.
Answer: E
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The adjusting entry to record the salaries earned due to employees for services provided but unpaid at the end of the accounting period affects the accounts in which of the following ways?
A. Debit Salaries Expense and credit Salaries Payable. B. Debit Accrued Salaries and credit Salaries Payable. C. Debit Salaries Payable and credit Salaries Expense. D. Debit Salaries Expense and credit Cash. E. Debit Cash and credit Salaries Expense.
A partner invests into a partnership a building with a $50,000 carrying value and $80,000 fair market value. The related mortgage payable of $25,000 is not assumed by the partnership. The entry to record the investment in partnership is:
A) Building 50,000 Capital 50,000 B) Building 80,000 Capital 80,000 C) Capital 80,000 Mortgage Payable 25,000Building 55,000 D) Building 80,000 Mortgage Payable 25,000Capital 55,000
This theory is based on the belief that laws are created by men and therefore subject to pitfalls created by men
a. The natural theory of law b. Legal positivism c. Legal realism. d. Jurisprudence
Which of the following statements is false regarding the graph of the second-order polynomial model y = ?0 + ?1x + ?2x2 +?
a. If ?2 is negative, the graph is concave, while if ?2 is positive, the graph is convex. b. The greater the absolute value of ?2, the smaller the rate of curvature. c. When we plot x versus y, the graph is shaped like a parabola. d. All of these choices are true.