Martina invested her savings into her business when she started it. Later she added more capital and she has kept some of her profits. Together these are known as:
A. debt capital.
B. accrued expenses.
C. owners' long-term debt.
D. owners' equity.
Answer: D
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Answer the following statements true (T) or false (F)
1. Vacation, health, and pension benefits must be estimated and recorded as a liability. 2. When an employee takes a paid vacation, the Vacation Benefits Payable account will be decreased with a credit. 3. A pension plan is a plan that provides benefits to retired employees. 4. Warranties pose an accounting challenge because a company does not know which or how many products will have to be repaired. 5. The entry to accrue the warranty payable includes a credit to Warranty Expense.
The New Professor (Scenario)Dan Powell received his Ph.D. and has begun teaching at a large university. Prior to his first day of class, Dan's department head met with him and explained what was expected of a new professor in terms of maintaining discipline in his classroom and providing students with a challenging course. Later that week, Dan met with other professors in a faculty meeting. During that meeting, a number of issues were discussed. Although Dan did not agree with all of them, he did not feel comfortable voicing his opinion because he was less experienced than the other professors. Many of the senior professors were also reluctant to discuss issues.Midway through his first semester, one of the teams in Dan's class came to him with a problem. Of the four team members, all of
them were doing their jobs except Stacey. The group had agreed to have Stacey as a member since they all knew she had a high GPA and worked hard on all of her individual assignments. However, as a team member the group agreed that they were not getting Stacey's best efforts. Which of the following is a possible explanation for Stacey's behavior? A. social loafing B. groupthink C. role conflict D. status differentiation
The ______________________________ process includes events surrounding the purchase of goods from a vendor, the recognition of the cost of those goods, and the payment to the vendor.
Fill in the blank(s) with the appropriate word(s).
Retrenchment is:
A. an organizational life cycle stage in which established firms must find new approaches to improve the business. B. the third life cycle stage. C. a stage marked by a stabilization of demand. D. a type of life cycle stage following a boom in which there is a rapid decrease in the number of firms.