When a firm writes a check, there is an immediate decrease in the ________ balance, but no immediate change in the ________ balance.
A) bank; collected
B) ledger; book
C) bank; ledger
D) book; bank
E) available; book
D) book; bank
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In the journalizing process, the exact account titles shown in the chart of accounts must be used
Indicate whether the statement is true or false
Richard sent a letter to Enrico, his client in El Salvador who speaks English with hesitancy. What is the most obvious problem with the following excerpt from the letter? "I'm so sorry I dropped the ball on the contract negotiations. I've been wearing so many hats lately, I hardly know if I'm coming or going. I promise I'll make things up to you as soon as my situation levels out."
a. Parallelism b. Culturally biased terms c. Regional jargon d. All of the above
In which of the following cases does the conversion of an existing business to an LLC (limited liability company) take effect?
A) when the articles of organization are filed with the secretary of state B) when the members enter into an agreement of conversion C) when an operating agreement is finalized by the members D) when the first certificate of interest is issued
When a contract falls within the statute of frauds, the signatures of both parties must be shown to the court
Indicate whether the statement is true or false