Net Worth Increase + Living Expenses =
a. Income
b. Funds from known sources
c. Liabilities
d. Assets
a
FEEDBACK: a. Correct.
b. Incorrect. Net Worth Increase + Living Expenses = Income
c. Incorrect. Net Worth Increase + Living Expenses = Income
d. Incorrect. Net Worth Increase + Living Expenses = Income
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List the five basic components of accounting information systems and give an example of each.
What will be an ideal response?
An agent, at his principal's direction, fixes prices with the principal's competitors. The result is:
a. only the agent is criminally liable. b. only the principal is criminally liable. c. both the principal and agent are criminally liable. d. any liability would be civil only.
Iris received a discharge under a Chapter 7 bankruptcy. She cannot receive another discharge under Chapter 7 for at least A) six years after the prior filing
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The following parties are usually guarantors in forfaiting EXCEPT:
A) commercial banks B) government ministries of finance C) large commercial enterprises D) government banks