Which of the accounting steps in the accounting process below would be completed last?
A) preparing the adjusted trial balance
B) posting
C) preparing the financial statements
D) journalizing
C
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______ describes corporate giving that supports a good environment in which to do business.
A. Philanthropy B. Stewardship C. Enlightened self-interest D. Institutional advancement
Which of the following statements is CORRECT?
A. In the statement of cash flows, a decrease in accounts receivable is subtracted from net income in the operating activities section. B. Dividends do not show up in the statement of cash flows because dividends are considered to be a financing activity, not an operating activity. C. In the statement of cash flows, a decrease in accounts payable is subtracted from net income in the operating activities section. D. In the statement of cash flows, depreciation is subtracted from net income in the operating activities section. E. In the statement of cash flows, a decrease in inventories is subtracted from net income in the operating activities section.
The certificate of limited partnership need not be amended if a new general partner is admitted
Indicate whether the statement is true or false
Which of the following statements is correct?
a. A private foundation is, in general, exempt from Federal income tax. b. A private foundation may be subject to certain types of Federal income tax. c. If a broad public support test is satisfied, an exempt organization that otherwise would be classified as a private foundation is not classified as a private foundation. d. Only b. and c. are correct. e. a., b., and c. are correct.