In a sole proprietorship, the owner is personally liable for the debts of the business

Indicate whether the statement is true or false


TRUE

Business

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Anole Company was incorporated as a new business on January 1, 2016 . The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6%, $10 par value, cumulative, participating preferred stock. On January 1, 2016, the company issued 8,000 shares of common stock for $15 per share and 2,000 shares of preferred stock for $30 per share. Net income for the year

ended December 31, 2016, was $375,000. Refer to the information about Anole Company. The amount of Anole's total contributed capital at December 31, 2016, is a. $60,000. b. $120,000. c. $180,000. d. $555,000.

Business

Because quality is subjective, all customers have the expertise to assess the quality and value they receive

Indicate whether the statement is true or false

Business

According to Terpstra and David (1991), which of the following is not a characteristic of the ‘set of symbols whose meanings provide a set of orientations for members of a society’ and that constitute national culture:

a. inter-related b. shared c. random d. compelling

Business

Under the ________ doctrine, damages are apportioned according to fault

A) contributory negligence B) comparative fault C) proximate cause D) assumption of risk

Business