According to Thomas Stanley and William Donko in their book The Millionaire Next Door, 50 percent of the millionaires in the United States are self-employed.
Answer the following statement true (T) or false (F)
False
In their book entitled The Millionaire Next Door, Thomas Stanley and William Danko highlight statistics that demonstrate the potential for financial rewards from starting a business. For example, they point out that that 75 percent of these self-employed millionaires are entrepreneurs; the other 25 percent are self-employed professionals, such as doctors and accountants.
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Public confidence is mostly maintained by the public accounting profession through integrity based on personal moral standards and it is reinforced by codes of conduct
a. True b. False Indicate whether the statement is true or false
What is the accounting rate of return for Project B? (Round your answer to two decimal places.)
A company is evaluating three possible investments. Each uses the straight-line method of depreciation. Following information is provided by the company:
A) 38.14%
B) 26.19%
C) 54.55%
D) 51.83%
Caterpillars, Inc, a manufacturing company, acquired equipment on January 1, 2014 for $600,000
Estimated useful life of the equipment was seven years and the estimated residual value was $18,000. On January 1, 2017, after using the equipment for three years, the total estimated useful life has been revised to nine total years. Residual value remains unchanged. The company uses the straight-line method of depreciation. Calculate depreciation expense for 2017. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $57,143 B) $55,429 C) $66,667 D) $64,667
Which of the following will decrease total equity? An increase in:
A) common stock material. B) net income. C) dividends paid. D) interest expense.