Arturo Sales purchased some equipment for $12,000 by issuing a six-month note payable. This will appear in the non-cash investing and financing activities section of the statement of cash flows
Indicate whether the statement is true or false
TRUE
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Which of the following statements regarding contingencies is true?
a. Contingencies that are probable and not estimable appear on the balance sheet. b. Contingencies that are probable and not estimable are disclosed in the notes to the financial statements. c. Contingencies that are remote but estimable are disclosed in the notes to the financial statements. d. Contingent assets are recorded on the balance sheet, but not in the notes to the financial statements.
Identify the account below that is classified as an asset account:
A. Unearned Revenue B. Supplies C. Service Revenue D. Retained Earnings E. Accounts Payable
The managers at ValuTech need to determine whether or not the racial makeup of its staff accurately reflects the surrounding labor market. The best way to collect this information is to
A. interview the employees. B. do a workforce utilization analysis. C. perform validation studies. D. use E-Verify.
A shareholder who dissents to a merger and is entitled to the appraisal remedy generally does not have the right to attack the validity of the corporate action
a. True b. False Indicate whether the statement is true or false