Upward mobility, a value that strongly influenced attitudes in America's first 200 years, emphasizes:
a. hard work.
b. nonconformity.
c. self-dealing.
d. unconventionality.
ANSWER: a
Upward mobility, a value that strongly influence attitudes in America's first 200 years, suggests that success would come to anyone who got an education, worked hard, and played by the rules.
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Garner, Inc determined that it had incorrectly estimated both the estimated life and the estimated residual value of equipment that it purchased two years ago. When Garner accounts for the change in accounting estimates, it must depreciate the remaining book value of the asset over the current and future accounting periods
a. True b. False Indicate whether the statement is true or false
Harry, Tony, and Liza run a partnership firm. In the process of liquidation, the partnership sells non- cash assets, having a book value of $78,000, for $86,000. Which of the following is TRUE of the journal entries?
A) Cash will be credited by $8000. B) Non-cash assets will be credited for $86,000. C) Cash will be credited for $78,000. D) Non-cash assets will be credited for $78,000.
The legal foundations of America’s nonprofit sector are drawn from ______law.
A. natural B. English C. Spanish D. nonprofit
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A. A debit to Land and a credit to Cash B. A debit to Land and a debit to Cash C. A credit to Land and a credit to Cash D. A debit to Cash and a credit to Land