When expenses exceed revenues,
a. a net income will result.
b. a net loss occurs.
c. stockholders' equity increases.
d. a liability is created.
B
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The Cat Shack nonprofit organization’s operating fund has decreased greatly. According to Brothers and Sherman, the Cat Shack would be at what stage of the life cycle arc?
A. low B. high C. middle D. sustained
Adverse psychological effects of stress include ________.
a. absenteeism b. elevated heart rates c. boredom d. rapid speech
If assets are $88,000 and liabilities are $27,300, then equity equals:
A. $60,700. B. $203,300. C. $27,300. D. $115,300. E. 88,000.
A company borrowed cash from the bank and signed a 6-year note at 7% annual interest. The present value for an annuity (series of payments) at 7% for 6 years is 4.7665. The present value of 1 (single sum) at 7% for 6 years is 0.6663. Each annual payment equals $8,400. The present value of the note is:
A. $26,652.00. B. $40,038.60. C. $190,660.00. D. $40,540.00. E. $5,596.92.