To assign a value to a variable, you must use the _____ operator.
Fill in the blank(s) with the appropriate word(s).
equal sign
You assign a value to a variable using the equal sign operator. You have lots of flexibility in naming your variables, so make the variable names as descriptive as possible.
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Kim Hsu is the owner of Hsu's Financial Services. At the end of its accounting period, December 31, 2009, Hsu's has assets of $575,000 and owner's equity of $335,000. Using the accounting equation and considering each cased independently, determine the
following amounts. a. Hsu's liabilities as of December 31, 2009. b. Hsu's liabilities as of December 31, 2010, assuming that assets increased by $56,000 and owner's equity decreased by $32,000. c. Net income or net loss during 2010, assuming that as of December 31, 2010, assets were $592,000, liabilities were $450,000, and there were no additional investments or withdrawals.
Membership in the American Institute of Certified Public Accountants (AICPA) is suspended without a hearing if a judgment of conviction is filed with the secretary of the institute as related to ________
A) the willful failure to file an income tax return B) a petty crime as defined under any state law C) a misdemeanor as defined under any state law D) an inability to file an income tax return
Sylvia Jurgen operates a florist shop. During a particularly busy day, she allowed one of her employees, Terry Lioni, to use her (Jurgen's) personal car to assist with deliveries. Lioni had just obtained his driver's license. Lioni was involved in an accident that was his fault. Would Jurgen's liability insurance pay in this situation?
Which of the following is NOT considered "earnings management?"
A. "Earnings management" is done to project smoother earnings from year to year B. Management emphasizes achieving long-term results to meet financial goals C. Executives manipulate the earnings in order to match their predetermined target D. Management uses "cookie-jar reserves each year"