A sentence lacks parallelism if similar ideas are expressed using different grammatical structures
Indicate whether the statement is true or false
True
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Cost of goods sold equals $500,000, and average inventory equals $200,000 . Days' inventory on hand equals
a. 91.3 days. b. 146.0 days. c. 821.9 days. d. 912.5 days.
The December 31 . 2014, balance sheet of Giorgio Inc, reported total assets of $1,050,000 and total liabilities of $680,000 . The following information relates to the year 2015: • Madden Inc issued an additional 5,000 shares of common stock at $25 per share on July 1 . 2015. • Madden Inc paid dividends totaling $80,000. • Net income for 2015 was $110,000. • No other changes occurred in
stockholders' equity during 2015. The stockholders' equity section of the December 31 . 2015, balance sheet would report a balance of a. $400,000. b. $685,000. c. $525,000. d. $835,000.
Payment is made for the telephone bill which was recorded previously. What effect does this transaction have on the accounting equation?
A) Assets and liabilities increase B) Assets and retained earnings increase C) Liabilities increase and contributed capital decreases D) Assets and liabilities decrease
Financial and managerial accounting are similar in that both:
a. are useful for making decisions. b. are required by regulatory bodies such as the SEC. c. emphasize the organization as a whole. d. involve summarizing financial information. e. All of the answers are similarities.