Which one of the following account groups normally has a debit balance?
A) assets and expenses
B) revenues and expenses
C) liabilities and revenues
D) assets and liabilities
A
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Under which of the following conditions would hurricane damage be considered an extraordinary item for financial reporting purposes?
a. Under any circumstances hurricane damage should be classified as an extraordinary item. b. Only if hurricanes are unusual in nature and infrequent in occurrence in the geographic area c. Only if hurricanes are normal in the geographic area but do not occur frequently d. Only if hurricanes occur frequently in the geographic area but have been insured against
In a corporation, the board of directors is elected by the chairperson of the company
Indicate whether the statement is true or false
It took 18 hours to complete the first two products with an 80% learning curve. How long did the second product take?
A) 8.0 hours B) 10.0 hours C) 18.0 hours D) 8.1 hours E) none of the above