Accounts payable appear on which of the following statements?
A. Income statement.
B. Statement of retained earnings.
C. Statement of cash flows.
D. Transaction statement.
E. Balance sheet.
Answer: E
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In order to prove fraud, which of these elements must be shown?
A. The innocent party knew the wrongdoer. B. The innocent party detected the misrepresentation prior to the contract's formation. C. The wrongdoer assumed a false identity. D. The innocent party justifiably relied on the wrongdoer's misrepresentation.
The tort of false imprisonment requires that the plaintiff either knew he or she was confined or suffered harm as a result of the confinement
a. True b. False Indicate whether the statement is true or false
Marina Limited Partners applied for a zoning variance to relocate part of their 700-slip marina to a new marina to be constructed at another location on the Geist Reservoir in Hamilton County, Indiana. Marina would move 300 of its slips to the new
marina. The construction of the new marina required approval of a variance by the Board of Zoning Appeals for the city of Noblesville. At the hearing, John Allen and others who owned property in the area appeared and objected to the marina's construction. They presented evidence that construction of the marina would lower their property values. There was additional evidence regarding noise, traffic, smoke, fumes, and odors. The board's staff recommended approval, but the board denied the variance. Marina Partners filed suit alleging the finding was arbitrary. Are they correct?
If a company uses the net method to record purchases, but fails to pay within the discount period, which account is debited or credited for the lost discount?
A) Accounts Payable, debited B) Inventory, debited C) Accounts Payable, credited D) Inventory, credited