The sole proprietorship is the most common business organization in the U.S
a. True
b. False
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True
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The cost-benefit convention holds that the benefits to be gained from providing accounting information should be greater than the costs of providing it
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Antitrust laws are constant across changes in governmental administration
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Refer to the following information for Tangent Corporation
• Common Stock, $1.00 par, 108,000 shares issued, 99,000 shares outstanding • Paid-In Capital in Excess of Par-Common: $2,330,000 • Retained Earnings: $910,000 • Treasury Stock: 11,000 shares purchased at $33 per share If Tangent resold 1,300 shares of treasury stock for $23.00 per share, which of the following statements would be true? A) The Treasury Stock account would decrease by $21,450. B) The Paid-In Capital in Excess of Par-Common account would increase by $1,300. C) The Treasury Stock account would decrease by $42,900. D) The Retained Earnings account would increase by $29,900.
Advertising that appears to be based on factual evidence will not be deemed deceptive even if it is not reasonably supported by evidence
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