Financial planning takes place in a dynamic economic environment created by the actions of the government, business, and consumers.
Answer the following statement true (T) or false (F)
True
Rationale: Financial planning takes place in a dynamic economic environment created by the actions of the government, business, and consumers. See 1-4: The Planning Environment.
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Which of the following was a core demand of colonial leaders seeking independence from England as expressed in the Declaration of Independence?
a. an end to the practice of impressment b. government based on the consent of the governed c. lower taxation d. the right to expand westward
An unfunded pension liability is reported on the balance sheet as
A) current liability B) owner's equity C) long-term liability D) current liability or long-term liability, depending upon when the pension liability is to be paid
Which of the following statement is true regarding the trial balance?
A. Incorrectly recording a cash sale as a sale on account would not cause the trial balance to be out of balance. B. The income statement is prepared using the post-closing trial balance. C. Trial balances are only prepared at the end of an accounting period. D. A balance of debits and credits ensures that all transactions have been recorded correctly.
Which of the following is not a primary source of financing for entrepreneurial start-ups?
A. private investors B. investments by family and friends C. public equity D. personal savings