In most states, corporations legally exist for fifty years, then must renew their corporate charters
a. True
b. False
Indicate whether the statement is true or false
False
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Blenham, Inc sells merchandise on credit. If a customer pays its balance due within the discount period, what is the effect of the payment on Blenham's accounting equation?
a. Assets and stockholders' equity decrease. b. Assets and stockholders' equity increase. c. Assets decrease and liabilities increase. d. Stockholders' equity decreases and liabilities increase.
A service firm will usually have a low amount of inventory, consisting primarily of supplies
Indicate whether the statement is true or false
The direct materials price variance is best measured and reported to appropriate management personnel at the time
A) purchased quantities exceed standard order size. B) quarterly financial statements are prepared. C) shipments are received and recorded as purchases. D) direct materials are issued to production areas.
A point estimate is a single numeric value, a "best guess" of a population parameter, calculated from the sample data.
Answer the following statement true (T) or false (F)