Milton Friedman supports social spending by businesses if they can show a benefit to the shareholders

Indicate whether the statement is true or false


TRUE

Business

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Closing entries serve two important purposes: (1) to return the balances in all temporary or nominal accounts to zero to start the next accounting period and (2) to transfer the net income (or net loss) and the dividends of the period to the Retained Earnings account

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

Business

A prediction that increases the likelihood that an anticipated outcome will occur is known as a(n) ______.

A. reflected appraisal theory B. social appraisal theory C. anticipated outcomes D. self-fulfilling prophecy

Business

More often than not, process improvement takes place whether or not a process is reengineered

Indicate whether the statement is true or false

Business

Which of the following would not be considered part of the unique characteristic of high-quality information?

A. Are there any duplicate orders? B. Are there any duplicate customers? C. Is each transaction and event represented only once in the information? D. Is aggregate information in agreement with detailed information?

Business