If a business has no business liabilities, the owner's equity is equal to the total assets
Indicate whether the statement is true or false
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Which of the following is an advantage of larger groups?
A. Higher morale B. More effective interaction C. Greater boldness D. Able to take advantage of division of labor E. Less social loafing
California Company sold a product for $7,150 to Alliance Enterprises on credit. The cost of goods sold is $5,650. Assuming the firm is following a perpetual inventory system and using a sales journal, it will record $5,650 in the ________.
A) Accounts Receivable DR, Sales Revenue CR column B) Cost of Goods Sold DR, Merchandise Inventory CR column C) Merchandise Inventory DR, Cost of Goods Sold CR column D) Sales Revenue DR, Accounts Receivable CR column
How should stock dividends be measured and accounted for? Is this treatment justified?
What will be an ideal response?
Gus has low self-esteem. As a child he was probably
A) expected to be perfect all the time. B) praised frequently. C) given a lot of attention and hugs. D) a high performer in school and sports.