The owner's right, claim, or financial interest is expressed as
a. equity.
b. capital.
c. owner's equity.
d. all of the answers listed.
d
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Which of the following errors will cause a trial balance to be out of balance?
a. The bookkeeper forgot to journalize a transaction. b. The bookkeeper forgot to post a journal entry to the ledger. c. A credit was posted to an account as a debit. d. A debit to Office Equipment was incorrectly debited to Office Supplies.
Once the useful life of a depreciable asset has been estimated and the amount to be depreciated each year has been determined, the amounts can not be changed
Indicate whether the statement is true or false
Which of the following indorsements would be considered a nonrestrictive indorsement?
A) pay to the order of Jane Doe B) pay to Jane Doe only C) for deposit only D) pay to Jane Doe, trustee
Wild & Scenic River Tours, Inc, is a corporation. Wild & Scenic has the implied power to
a. issue stocks and bonds. b. execute contracts and negotiable instruments. c. buy and sell (or lease) property. d. perform all acts reasonably appropriate and necessary to accomplish its corporate purposes.