At the start of the first year of operations, Retained Earnings would be:
A. equal to zero.
B. equal to the Net Income.
C. equal to Common Stock.
D. equal to stockholders' equity.
Answer: A
You might also like to view...
Briefly explain the similarities and differences between advertising and promotion.
What will be an ideal response?
During May, Phone Mart sold 150 iPhones for $200 each. Each iPhone had cost Phone Mart $108 to purchase and carried a one-year warranty. If 4 percent typically need to be replaced over the warranty period and two actually are replaced during May, the entry to record the Product Warranty Expense is
A) Product Warranty Expense 216 Estimated Product Warranty Liability 216 B) Product Warranty Expense 3,000 Cash 3,000 C) Product Warranty Expense 648 Cash 648 D) Product Warranty Expense 648 Estimated Product Warranty Liability 648
Answer the following statements true (T) or false (F)
1. A speaker’s message is easier to follow if the presentation has a discernable structure. 2. It is important to explain complex concepts to minimize your chances of being misunderstood. 3. Most subjects become interesting if well adapted to the audience. 4. In order for your speech to remain with your audience after you have finished speaking, you must make it memorable.
There is no difference between the recording of cash sales and the recording of MasterCard or VISA sales
Indicate whether the statement is true or false