Net income results in a(n)
A) increase in stockholders' equity.
B) increase in revenues.
C) decrease in expenses.
D) increase in assets.
A
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Answer the following statements true (T) or false (F)
Accounting research of two generations ago was purely normative.
Harrison Manufacturing has the following product information available: Sales price $50 per unit Variable costs $26 per unit Fixed costs $87,600 If Harrison is in the 35% tax bracket, how many units need to be sold in order to earn an after-tax target profit of $260,000?
A) 16,667 units B) 14,483 units C) 22,282 units D) 20,317 units
Suppose a company issued 30-year bonds 4 years ago, when the yield curve was inverted. Since then long-term rates (10 years or longer) have remained constant, but the yield curve has resumed its normal upward slope. Under such conditions, a bond refunding would almost certainly be profitable.
Answer the following statement true (T) or false (F)
In general, a tenant is under a duty to make minor repairs to the leased premises
Indicate whether the statement is true or false