Stockholders are owners of a corporation.
Answer the following statement true (T) or false (F)
True
Stockholders are the owners of a corporation.
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Alpha Company has assets of $640,000, liabilities of $270,000, and equity of $370,000. It buys office equipment on credit for $95,000. What would be the effects of this transaction on the accounting equation?
A. Assets increase by $95,000 and expenses increase by $95,000. B. Assets increase by $95,000 and liabilities increase by $95,000. C. Liabilities increase by $95,000 and expenses decrease by $95,000. D. Assets decrease by $95,000 and expenses decrease by $95,000. E. Assets increase by $95,000 and expenses decrease by $95,000.
When preparing financial statements, the accountant assumes that the business will continue to operate for at least 5 years, unless there is evidence to the contrary
Indicate whether the statement is true or false
In 2010, after surviving a heart attack, Arthur executed a valid will in which he left his entire estate to the Heart Fund. In 2014, Arthur was declared incompetent and was committed to an institution. At his death in 2017, his son, Brian, who was his sole survivor, contested the will claiming that Arthur was obviously incompetent. Will Brian prevail with this argument? Explain
Which type of analysis is usually conducted first when performing a needs assessment in a training process?
A. Organizational analysis B. Task analysis C. Market analysis D. High-leverage analysis E. Person analysis