The sole proprietorship is the most common business organization in the U.S

a. True
b. False
Indicate whether the statement is true or false


True

Business

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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

Indicate whether the statement is true or false

Business

Antitrust laws are constant across changes in governmental administration

Indicate whether the statement is true or false

Business

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.

Business

Advertising that appears to be based on factual evidence will not be deemed deceptive even if it is not reasonably supported by evidence

Indicate whether the statement is true or false

Business