Which of the following is a reason for starting a new business?
A. It is easy to find the right business.
B. The chances of succeeding is not as high in a franchise as in a small business start-up.
C. The owner has the freedom to select his or her own competitive environment.
D. The owner does not have to experience problems in establishing basic management systems and controls when starting his or her own business.
Answer: C
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The accuracy of the statement of cash flows can be verified by computing the change in the balance of the
a. cash and cash equivalent accounts. b. equity account. c. revenue account. d. asset and liability accounts.
Montana City Company began business on January 1, 2016 . The corporate charter authorized issuance of 500 shares of $1 par value common stock and 400 shares of $4 par value, 3% cumulative preferred stock. What is the maximum amount that can be reported on the balance sheet for Common Stock and Preferred Stock, respectively, if all of the stock is issued? Common Stock Preferred Stock
a. $500 $1,600 b. $5,000 $120 c. $500 $120 d. Not enough information provided.
How does Grackin most likely benefit from hosting educational seminars?
A) engaging in socially responsible activities in the community B) helping sales representatives with their presentation skills C) providing shareholders with many educational benefits D) highlighting product benefits to potential prospects E) generating extra revenue from attendees
An illusory promise is an example of a contract that lacks consideration
Indicate whether the statement is true or false