One of the duties generally imposed on the principal by the common law is the duty to:
A. reimburse and indemnify.
B. consult.
C. account for funds and property.
D. share profits and losses.
Answer: A
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Dominant defensiveness is characterized by submissive behavior.
Answer the following statement true (T) or false (F)
Which of the following activities is not a component of the operating cycle?
a. Payment of employees' wages b. Sale of merchandise c. Purchase of merchandise d. Collection of cash from merchandise sales
A social entrepreneur who focuses on addressing the social needs of local communities is referred to a(n) ______________.
a. Social bricoleur b. Social constructionist c. Social technologist d. Social engineer
After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $28,000. The entry to close the income summary account will be:
A. Credit Retained earnings $28,000; debit Dividends $28,000. B. Debit Dividends $28,000; credit Income Summary $28,000. C. Debit Income Summary $28,000; credit Dividends $28,000. D. Debit Retained earnings $28,000; credit Income Summary $28,000. E. Debit Income Summary $28,000; credit Retained earnings $28,000.