Which statement BEST describes circumstances related to documenting secondary data sources?
a. Documenting sources is an academic exercise rarely used in business.
b. Documentation of sources is not required in a short report.
c. Omitting documentation rarely affects readers of a report.
d. Writers usually omit sources forcommon knowledge among readers.
d
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Creden has left 50 acres of land to the First Church of Magnolia with the condition that it shall own and have rights to it forever; however, if the church ever permits alcohol to be served on the premises, the property will immediately go back to Creden or, if Creden is deceased, to his heirs. Creden has granted the church a:
A. fee simple. B. fee tail. C. fee simple defeasible. D. life estate.
Which of the following is not a measure of profitability?
A) Current ratio B) Return on assets C) Return on equity D) Debt to equity ratio
Fund-raising activities in a not-for-profit organization
a. are not important in accounting for the expenditure of the organization. b. must be reported clearly in the financial reports of the not-for-profit so that donors can see the amount of funds going to the mission of the organization. c. are not heavily scrutinized in the financial accounting records. d. are usually the main function of the organization.
Cash dividends cause a decrease in both assets and stockholders' equity of the corporation
Indicate whether the statement is true or false